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Income Taxes | 9 Months Ended
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Sep. 30, 2021
Income Taxes [Abstract] |
Income Taxes |
Note 8. | Income Taxes
A reconciliation of the differences between income taxes computed at the federal statutory income tax rate and income tax expense (benefit) is as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Federal income tax provision at statutory rate of 21% |  | $ | (271 | ) |  | $ | 511 |  |  | $ | 402 |  |  | $ | 102 |
Dividends-received deduction |  |  | (7 | ) |  |  | (3 | ) |  |  | (21 | ) |  |  | (9 | )
Meals & entertainment |  |  | 8 |  |  |  | 3 |  |  |  | 22 |  |  |  | 16 |
Vested stock & club dues |  |  | (27 | ) |  |  | 24 |  |  |  | (32 | ) |  |  | 27 |
Parking disallowance |  |  | 4 |  |  |  | 4 |  |  |  | 12 |  |  |  | 12 |
Adjustment for prior years' estimates to actual |  |  | (85 | ) |  |  | 18 |  |  |  | (85 | ) |  |  | 18 |
Income tax expense (benefit) |  | $ | (378 | ) |  | $ | 557 |  |  | $ | 298 |  |  | $ | 166 |
The components of income tax expense (benefit) were:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Current – Federal |  | $ | (746 | ) |  | $ | 705 |  |  | $ | 323 |  |  | $ | 3,007 |
Deferred – Federal |  |  | 368 |  |  |  | (148 | ) |  |  | (25 | ) |  |  | (2,841 | )
Total |  | $ | (378 | ) |  | $ | 557 |  |  | $ | 298 |  |  | $ | 166 |
In addition, the Company determined there were no significant tax implications as a result of the CARES Act.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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