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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Summary of Components of Earnings Before Income Taxes | The components of earnings before income taxes for the years ended December 31, 2020 and 2019 were as follows:
|  | Year Ended |
|  | December 31, |
|  | 2020 |  |  | 2019 |
Income (loss) before income taxes: |  |  |  |  |  |  |  |
Domestic |  | $ | (2,826,902 | ) |  | $ | (1,436,516 | )
Foreign |  |  | 63,527 |  |  |  | 56,760 |
|  | $ | (2,763,375 | ) |  | $ | (1,379,756 | )
Summary of Components of Income Tax Provision (Benefit) | Income tax provision (benefit) consists of the following for the years ended December 31, 2020 and 2019:
|  | Year Ended |
|  | December 31, |
|  | 2020 |  |  | 2019 |
Income tax provision (benefit): |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | 3,563 |  |  |  | 747 |
Total current |  |  | 3,563 |  |  |  | 747 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Total deferred |  |  | - |  |  |  | - |
Total income tax provision (benefit) |  | $ | 3,563 |  |  | $ | 747 |
Summary of Effective Tax Rate and Statutory Federal Rate | A reconciliation of the income tax provision (benefit) by applying the statutory United States federal income tax rate to income (loss) before income taxes is as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
|  | $ |  |  | % |  |  | $ |  |  | % |
Federal income tax provision (benefit) at statutory rate |  | $ | (580,309 | ) |  |  | 21.00 | % |  | $ | (289,749 | ) |  |  | 21.00 | %
State tax expense net of federal tax benefit |  |  | 35,833 |  |  |  | (1.29 | ) |  |  | 22,210 |  |  |  | (1.61 | )
Non-Deductible Expenses |  |  | 56,545 |  |  |  | (2.05 | ) |  |  | - |  |  |  | - |
Foreign taxes at rate different than US Taxes |  |  | 236 |  |  |  | (0.01 | ) |  |  | 618 |  |  |  | (0.05 | )
Other True-ups |  |  | 1,267,030 |  |  |  | (45.85 | ) |  |  | - |  |  |  | - |
Change in valuation allowance |  |  | (775,772 | ) |  |  | 28.07 |  |  |  | 267,668 |  |  |  | (19.29 | )
Income tax provision (benefit) |  | $ | 3,563 |  |  |  | (0.13 | )% |  | $ | (747 | ) |  |  | 0.05 | %
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are provided for significant income and expense items recognized in different years for tax and financial reporting purposes. Temporary differences, which give rise to a net deferred tax asset is as follows:
|  | December 31, 2020 |  |  | December 31, 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforward |  | $ | 1,720,848 |  |  | $ | 1,255,005 |
Property plant and equipment and intangibles asset |  |  | 123,968 |  |  |  | - |
Stock based compensation |  |  | 185,961 |  |  |  | - |
Total deferred tax assets |  | $ | 2,030,777 |  |  | $ | 1,255,005 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Book basis of property and equipment in excess of tax basis |  | $ | - |  |  | $ | - |
Total deferred tax liabilities |  | $ | - |  |  | $ | - |
Net deferred tax asset before valuation allowance |  | $ | 2,030,777 |  |  | $ | 1,255,005 |
Less: valuation allowance |  |  | (2,030,777 | ) |  |  | (1,255,005 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |

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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=84230637&loc=d3e32639-109319 + Details
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