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Income Taxes | 9 Months Ended
--- | ---
Sep. 30, 2024
Income Taxes [Abstract] |
Income Taxes |
Note 10. | 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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Federal income tax provision at statutory rate of 21% |  | $ | (515 | ) |  | $ | 449 |  |  | $ | (1,220 | ) |  | $ | 533 |
Dividends-received deduction |  |  | (10 | ) |  |  | (10 | ) |  |  | (22 | ) |  |  | (27 | )
Meals and entertainment |  |  | 18 |  |  |  | 9 |  |  |  | 53 |  |  |  | 32 |
Vested stock and club dues |  |  | — |  |  |  | 11 |  |  |  | 1 |  |  |  | 14 |
Parking disallowance |  |  | 7 |  |  |  | 5 |  |  |  | 15 |  |  |  | 13 |
Adjustment for prior years’ estimates to actual |  |  | 44 |  |  |  | (85 | ) |  |  | 44 |  |  |  | (85 | )
Income tax expense (benefit) |  | $ | (456 | ) |  | $ | 379 |  |  | $ | (1,129 | ) |  | $ | 480 |
The components of income tax expense (benefit) were:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Current – Federal |  | $ | 296 |  |  | $ | 790 |  |  | $ | 296 |  |  | $ | 2,191 |
Deferred – Federal |  |  | (752 | ) |  |  | (411 | ) |  |  | (1,425 | ) |  |  | (1,711 | )
Total |  | $ | (456 | ) |  | $ | 379 |  |  | $ | (1,129 | ) |  | $ | 480 |

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