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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income Taxes and Effective Income Tax Rate

Provision (benefit) for Income Taxes and Effective Income Tax Rate

 

   December 31, 2024   December 31, 2023 
Federal          
Current  $-   $570,000 
Deferred   2,835,000    (2,835,000)
Total provision (benefit)  $2,835,000   $(2,265,000)
           
State          
Current  $35,000   $- 
Deferred   -    - 
Total provision (benefit)  $35,000   $- 
Schedule of Components of Income Tax Expense (Benefit)

A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate of 21% to income before provision for income taxes for the years ended December 31, 2024 and 2023, respectively, is approximately as follows:

 

   December 31, 2024   December 31, 2023 
Federal income tax expense (benefit) - 19.64%  $(9,044,000)  $3,848,000 
State income tax expense (benefit) - 6.5% - net of federal effect   (1,489,000)   923,000 
Non-deductible items   1,392,000    174,000 
Other   163,000    - 
Subtotal   (8,978,000)   4,945,000 
Change in valuation allowance   11,848,000    (7,210,000)
Income tax expense (benefit)  $2,870,000   $(2,265,000)
           
Effective tax rate   -6.7%   -12.4%
Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2024 and 2023, respectively, the significant components of deferred tax assets and liabilities are approximately as follows:

 

   December 31, 2024   December 31, 2023 
Deferred Tax Assets          
Reserve for uncollectible accounts  $-   $5,000 
Investment - Centercom   45,000    - 
Stock based compensation   204,000    - 
Lease liabilities   144,000    - 
Intangible assets   37,000    - 
Goodwill   15,000    - 
Net operating loss carryforwards   12,425,000    3,844,000 
Total deferred tax assets   12,870,000    3,849,000 
Less: valuation allowance   (12,638,000)   (790,000)
Net deferred tax assets   232,000    3,059,000 
           
Deferred Tax Liabilities          
Depreciation   89,000    224,000 
Right-of-use assets   143,000    - 
Net deferred tax liabilities   232,000    224,000 
           
Deferred income taxes - net  $-   $2,835,000