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Federal Income Taxes (Tables)

12 Months Ended

Jan. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

Income taxes for the years ended January 31,
		2018				2017
Current income tax provision (benefit)			335,000				(227,000	)
Deferred income tax provision (benefit)			-				-
Net income tax expense (benefit)		$	335,000			$	(227,000	)

Schedule of Deferred Tax Assets and Liabilities

Total and net deferred income tax assets at January 31,
		2018				2017
Net operating loss carryforwards		$	2,763,000			$	4,040,000
Bad debt allowance			(22,000	)			(18,000	)
Accrued expenses			89,000				84,000
Syndications			5,179,000				5,179,000
Prepaid Insurance			30,000				30,000
Alternative minimum tax credit			91,000				91,000
Total deferred tax assets			8,130,000				9,406,000
Deferred income tax liability associated with book/tax differnces in hotel properties			(2,884,000	)			(2,459,000	)
Net deferred income tax asset			5,246,000				6,947,000
Valuation allowance			(5,246,000	)			(6,947,000	)
Net deferred income tax		$	-			$	-

Schedule of Reconciliation of Differences Between Effective and Statutory Income Tax Rates

A reconciliation of the differences between the effective and statutory income tax rates for years ended January 31, is as follows:

Income taxes for the years ended January 31,
		2018				2017
Current income tax provision (benefit)			341,000				(227,000	)
Deferred income tax provision (benefit)			-				-
Net income tax expense (benefit)		$	341,000			$	(227,000	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the differences between the effective and statutory income tax rates for years ended January 31, is as follows:

		2018
		Amount				Percent
Federal statutory rates		$	1,604,000				34	%
State income taxes			636,000				13	%
Changes in valuation allowance			(1,703,000	)			(36	)%
True-up to prior year returns			(240,000	)			(5	)%
Other			44,000				1	%
Effective rate		$	341,000				7	%

		2017
		Amount				Percent
Federal statutory rates		$	(878,000	)			(34	)%
State income taxes			(196,000	)			(8	)%
Changes in valuation allowance			1,445,000				56	%
True-up to prior year returns			(593,000	)			(23	)%
Other			(5,000	)			0	%
Effective rate		$	(227,000	)			(9	)%

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Schedule of Reconciliation of Differences Between Effective and Statutory Income Tax Rates [Table Text Block]

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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