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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Provision for (Benefit from) Income Taxes

The Company’s provision for (benefit from) income taxes is comprised of the following:

		Year Ended December 31
		2023				2022
Current
Federal		$	3,023,000			$	(749,000	)
State and local			499,000				104,000
Total Current			3,522,000				(645,000	)
Deferred
Federal		$	(366,000	)		$	(305,000	)
State and local			259,000				(350,000	)
Total Deferred			(107,000	)			(655,000	)
Total Provision for (benefit from) income taxes		$	3,415,000			$	(1,300,000	)

Schedule of Effective Tax Rate

The Company’s effective tax rate differs from the U.S. federal statutory income tax rate of 21% for the periods indicated are as follows:

		Year Ended December 31
		2023				2022
Federal statutory income tax rate			21.0	%			21.0	%
Goodwill amortization			(2.5	)%			6.5	%
Non-deductible fines and penalties			—	%			—	%
Share based compensation			—	%			—	%
Permanent differences			2.7	%			(6.1	)%
State and local taxes, net of federal benefit			5.7	%			9.4	%
Change in valuation allowance			2.4	%			2.0	%
Other			1.1	%			(2.5	)%
Effective tax rate			30.4	%			30.3	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

		As of December 31
		2023				2022
Deferred tax assets:
Net operating losses		$	3,393,000			$	5,023,000
Lease liabilities			840,000				648,000
Share-based compensation			—				—
Investment in Tigress			—				775,000
Investment in RISE			123,000				10,000
Investment in OpenHand			239,000				—
R&D costs capitalization			142,000				—
Settlement liability related to Kakaopay termination			1,253,000				—
Capital loss carryover			803,000				—
Other			79,000				45,000
Subtotal			6,872,000				6,501,000
Less: valuation allowance			(1,243,000	)			(978,000	)
Total Deferred tax assets		$	5,629,000			$	5,523,000
Deferred tax liabilities:
Fixed assets		$	(1,125,000	)		$	(1,126,000	)
Total Deferred tax liabilities			(1,125,000	)			(1,126,000	)
Net Deferred tax assets		$	4,504,000			$	4,397,000

Schedule of Unrecognized Tax Benefits, Excluding Interest and Penalties

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows:

		Amount
Balance as of December 31, 2021		$	2,418,000
Additions for tax positions taken during current year			—
Additions for tax positions taken during prior year			12,000
Reductions for tax positions taken during prior years			(834,000	)
Settlements			—
Expirations of statutes of limitations			—
Balance as of December 31, 2022		$	1,596,000
Additions for tax positions taken during current year			15,000
Additions for tax positions taken during prior year			—
Reductions for tax positions taken during prior years			(2,000	)
Settlements			—
Expirations of statutes of limitations			(204,000	)
Balance as of December 31, 2023		$	1,405,000

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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