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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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, |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | 2,607,000 |  |  | $ | 3,023,000 |
State and local |  |  | 472,000 |  |  |  | 499,000 |
Total Current |  |  | 3,079,000 |  |  |  | 3,522,000 |
Deferred |  |  |  |  |  |  |  |
Federal |  | $ | 520,000 |  |  | $ | (366,000 | )
State and local |  |  | 566,000 |  |  |  | 259,000 |
Total Deferred |  |  | 1,086,000 |  |  |  | (107,000 | )
Total Provision for (benefit from) income taxes |  | $ | 4,165,000 |  |  | $ | 3,415,000 |
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, |
|  | 2024 |  |  | 2023 |
Federal statutory income tax rate |  |  | 21.0 | % |  |  | 21.0 | %
Goodwill amortization |  |  | (1.6 | )% |  |  | (2.5 | )%
Permanent differences |  |  | 0.4 | % |  |  | 2.7 | %
State and local taxes, net of federal benefit |  |  | 5.4 | % |  |  | 5.7 | %
Change in valuation allowance |  |  | (0.8 | )% |  |  | 2.4 | %
Other |  |  | (0.5 | )% |  |  | 1.1 | %
Effective tax rate |  |  | 23.9 | % |  |  | 30.4 | %
Schedule of Deferred Tax Assets and Liabilities | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Net operating losses |  | $ | 2,971,000 |  |  | $ | 3,393,000 |
Lease liabilities |  |  | 676,000 |  |  |  | 840,000 |
Share-based compensation |  |  | 31,000 |  |  |  | — |
Intangible assets |  |  | 25,000 |  |  |  | — |
Investment in RISE |  |  | 122,000 |  |  |  | 123,000 |
Investment in Trading Technology Provider |  |  | 215,000 |  |  |  | 239,000 |
R&D costs capitalization |  |  | 187,000 |  |  |  | 142,000 |
Settlement liability related to Kakaopay termination |  |  | 649,000 |  |  |  | 1,253,000 |
Capital loss carryover |  |  | 719,000 |  |  |  | 803,000 |
Other |  |  | 113,000 |  |  |  | 79,000 |
Subtotal |  |  | 5,708,000 |  |  |  | 6,872,000 |
Less: valuation allowance |  |  | (1,104,000 | ) |  |  | (1,243,000 | )
Total Deferred tax assets |  | $ | 4,604,000 |  |  | $ | 5,629,000 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Fixed assets |  | $ | (1,186,000 | ) |  | $ | (1,125,000 | )
Total Deferred tax liabilities |  |  | (1,186,000 | ) |  |  | (1,125,000 | )
Net Deferred tax assets |  | $ | 3,418,000 |  |  | $ | 4,504,000 |
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, 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 |
Additions for tax positions taken during current year |  |  | 19,000 |
Additions for tax positions taken during prior year |  |  | — |
Reductions for tax positions taken during prior years |  |  | — |
Settlements |  |  | — |
Expirations of statutes of limitations |  |  | (70,000 | )
Balance as of December 31, 2024 |  | $ | 1,354,000 |

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