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Income Taxes (Tables) | 9 Months Ended
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Sep. 30, 2021
Income Taxes [Abstract] |
Reconciliation of Income Tax Expense (Benefit) | 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 |
Components of Income Tax Expense | 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 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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