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Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2021				2020
Income (loss) before taxes		$	(2,202,303	)		$	413,379
Income tax benefit (expense) at federal statutory rate		$	462,484			$	(86,800	)
State income tax benefit (expense), net of federal benefit			97,318				(20,700	)
Permanent Differences			(111,237	)			(7,400	)
Other			19,485				1,000
Net Operating Loss ("NOL") expirations			-				(66,600	)
Change in federal valuation allowance			602,804				180,500
Income tax benefit		$	1,070,854			$	-

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2021				2020
Current income tax (expense) benefit
Federal		$	-			$	-
State & Local			(1,813	)			-
			(1,813	)			-
Deferred income tax (expense) benefit
Federal			973,918				-
State & Local			98,749				-
			1,072,667				-
Income tax benefit		$	1,070,854			$	-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2021				2020
Deferred tax assets
Net operating losses		$	547,035			$	691,000
Stock-based compensation			428,072				-
Accrued commissions			50,047				39,600
Accrued vacations			41,331				37,600
Other			-				2,400
Deferred tax assets before valuation allowance			1,066,485				770,600
Valuation allowance			-				(746,100	)
Net deferred tax assets			1,066,485				24,500
Deferred tax liabilities
Intangible Assets			(2,185,281	)			-
Fixed Assets			(3,434	)			(24,500	)
Other			(45,274	)			-
Deferred tax liabilities			(2,233,989	)			(24,500	)
Net deferred assets (liabilities)		$	(1,167,504	)		$	-

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

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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
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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
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-SubTopic 10
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