XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Provision For Income Taxes (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Income Tax Disclosure [Abstract] |
Summary of Income Tax Benefits | Income tax benefit consists of the following federal, deferred components for the six months ended June 30, 2021 and 2020: Summary of Income Tax Benefits
|  | Six months ended June 30, 2021 |  |  | Six months ended June 30, 2020 |
Benefit of net operating losses |  | $ | 48,641 |  |  | $ | (154,168 | )
Other timing differences |  |  | 28,609 |  |  |  | (62,741 | )
Change in valuation allowance, including $188,000 reduction in valuation allowance due to purchased deferred tax liability in 2020 |  |  | (77,250 | ) |  |  | 29,909 |
Tax benefit |  | $ | - |  |  | $ | (188,300 | )
Summary of Reconciliation of Income Tax Expense | Summary of Reconciliation of Income Tax Expense
|  | Six months ended June 30, 2021 |  |  | Six months ended June 30, 2020 |
U.S. statutory rate |  |  | 21 | % |  |  | 21 | %
U.S. Federal income tax at statutory rate |  | $ | 217,688 |  |  | $ | (234,570 | )
Increase (decrease) in income taxes due to: |  |  |  |  |  |  |  |
Non-taxable PPP loan and accrued interest recovery |  |  | (177,467 | ) |  |  | - |
Non-deductible earnout expense |  |  | 16,214 |  |  |  | - |
Non-deductible goodwill amortization |  |  | 19,979 |  |  |  | 12,810 |
Other differences |  |  | 836 |  |  |  | 4,830 |
Benefit of acquisition-date purchased deferred tax liability |  |  | - |  |  |  | (188,300 | )
Other change in valuation allowance |  |  | (77,250 | ) |  |  | 216,930 |
Income tax benefit |  | $ | - |  |  | $ | (188,300 | )
Summary of Deferred Tax Assets and Liabilities | The approximate tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below: Summary of Deferred Tax Assets and Liabilities
|  | June 30, 2021 |  |  | December 31, 2020 |
Deferred tax assets |  |  |  |  |  |  |  |
Reserves and accruals not currently deductible for tax purposes |  | $ | 49,000 |  |  | $ | 51,000 |
Amortizable assets |  |  | 68,000 |  |  |  | 72,000 |
Net operating loss carryforwards |  |  | 3,971,000 |  |  |  | 4,020,000 |
Deferred tax assets |  |  | 4,088,000 |  |  |  | 4,143,000 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Property and equipment |  |  | (164,000 | ) |  |  | (143,000 | )
Net Deferred tax assets |  |  | 3,924,000 |  |  |  | 4,000,000 |
Valuation allowance |  |  | (3,924,000 | ) |  |  | (4,000,000 | )
Deferred tax assets and liabilities |  | $ | - |  |  | $ | - |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration