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Income Taxes (Tables) | 6 Months Ended
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Jun. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of source of pre-tax income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Six Months Ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
​ | ​ | USD | ​ | USD | ​ | USD | ​ | USD | ​
Income components | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | (1,200,966) | ​ | $ | 36,944 | ​ | $ | (1,840,931) | ​ | $ | (401,898) | ​
Outside United States | ​ |  | 879,136 | ​ |  | 242,983 | ​ |  | 1,003,531 | ​ |  | 411,079 | ​
Total pre-tax (loss) income | ​ | $ | (321,830) | ​ | $ | 279,927 | ​ | $ | (837,400) | ​ | $ | 9,181 | ​
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Current | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Federal | ​ | $ | 34,488 | ​ | $ | 11,165 | ​ | $ | 538 | ​ | $ | 10,624 | ​
State | ​ |  | 12,554 | ​ |  | 5,887 | ​ |  | 8,425 | ​ |  | 3,133 | ​
Foreign | ​ |  | 220,834 | ​ |  | 164,709 | ​ |  | 329,745 | ​ |  | 300,797 | ​
​ | ​ |  | 267,876 | ​ |  | 181,761 | ​ |  | 338,708 | ​ |  | 314,554 | ​
Deferred | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Federal | ​ |  | (379,397) | ​ |  | 7,888 | ​ |  | (417,347) | ​ |  | (92,675) | ​
State | ​ |  | (42,821) | ​ |  | 5,785 | ​ |  | (53,414) | ​ |  | 6,184 | ​
Foreign | ​ |  | (144,073) | ​ |  | (3,988) | ​ |  | (144,073) | ​ |  | (3,988) | ​
​ | ​ |  | (566,291) | ​ |  | 9,685 | ​ |  | (614,834) | ​ |  | (90,479) | ​
Total provision for income taxes | ​ | $ | (298,415) | ​ | $ | 191,446 | ​ | $ | (276,126) | ​ | $ | 224,075 | ​
Schedule of the components of income tax expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Six Months Ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
​ | ​ | USD | ​ | USD | ​ | USD | ​ | USD | ​
Income components | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | (1,200,966) | ​ | $ | 36,944 | ​ | $ | (1,840,931) | ​ | $ | (401,898) | ​
Outside United States | ​ |  | 879,136 | ​ |  | 242,983 | ​ |  | 1,003,531 | ​ |  | 411,079 | ​
Total pre-tax (loss) income | ​ | $ | (321,830) | ​ | $ | 279,927 | ​ | $ | (837,400) | ​ | $ | 9,181 | ​
Provision for income taxes | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Current | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Federal | ​ | $ | 34,488 | ​ | $ | 11,165 | ​ | $ | 538 | ​ | $ | 10,624 | ​
State | ​ |  | 12,554 | ​ |  | 5,887 | ​ |  | 8,425 | ​ |  | 3,133 | ​
Foreign | ​ |  | 220,834 | ​ |  | 164,709 | ​ |  | 329,745 | ​ |  | 300,797 | ​
​ | ​ |  | 267,876 | ​ |  | 181,761 | ​ |  | 338,708 | ​ |  | 314,554 | ​
Deferred | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Federal | ​ |  | (379,397) | ​ |  | 7,888 | ​ |  | (417,347) | ​ |  | (92,675) | ​
State | ​ |  | (42,821) | ​ |  | 5,785 | ​ |  | (53,414) | ​ |  | 6,184 | ​
Foreign | ​ |  | (144,073) | ​ |  | (3,988) | ​ |  | (144,073) | ​ |  | (3,988) | ​
​ | ​ |  | (566,291) | ​ |  | 9,685 | ​ |  | (614,834) | ​ |  | (90,479) | ​
Total provision for income taxes | ​ | $ | (298,415) | ​ | $ | 191,446 | ​ | $ | (276,126) | ​ | $ | 224,075 | ​
Schedule of reconciliation of effective income tax rate on earnings before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Six Months Ended |  | ​
​ | ​ | June 30, |  | ​
​ |  | 2024 |  | 2023 |  | ​
Federal statutory rate | ​ | 21.0 | % | 21.0 | % | ​
Increase (decrease) in tax rate resulting from: | ​ |  |  |  | ​ | ​
State and local income taxes, net of federal benefit | ​ | 4.3 |  | (5.3) | ​ | ​
Foreign operations | ​ | (1.6) |  | 84.0 | ​ | ​
Permanent items | ​ | (10.6) |  | 2.5 | ​ | ​
Deferred adjustments | ​ | 17.9 |  | 9.6 | ​ | ​
Others | ​ | 2.0 |  | (0.9) | ​ | ​
Effective tax rate | ​ | 33.0 | % | 110.9 | % | ​
Summary of components of net deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of |  | As of
​ | ​ | June 30, 2024 | ​ | December 31, 2023
​ | ​ | USD | ​ | USD
​ | ​ | ​ | ​ | ​
Deferred tax assets |  | ​ |  |  | ​ |
Allowance for credit losses | ​ | $ | 52,163 | ​ | $ | 58,476
Other reserve | ​ |  | 57,857 | ​ |  | 61,371
Accrued expenses | ​ |  | 157,981 | ​ |  | 143,823
Lease liability | ​ |  | 1,619,063 | ​ |  | 1,769,328
Charitable contributions | ​ |  | 8,187 | ​ |  | 8,181
Business interest limitation | ​ |  | 378,489 | ​ |  | 242,862
Net operating loss – federal | ​ |  | 623,342 | ​ |  | 310,099
Net operating loss – state | ​ |  | 65,184 | ​ |  | 27,337
Other | ​ |  | 195,104 | ​ |  | 66,063
Total deferred tax assets | ​ |  | 3,157,370 | ​ |  | 2,687,540
Less: valuation allowance | ​ |  | — | ​ |  | —
Net deferred tax assets | ​ |  | 3,157,370 | ​ |  | 2,687,540
Deferred tax liabilities | ​ |  |  | ​ |  |
Fixed assets | ​ |  | 1,561,953 | ​ |  | 1,728,364
Intangibles | ​ |  | (188,250) | ​ |  | (209,657)
Total deferred tax liabilities | ​ |  | 1,373,703 | ​ |  | 1,518,707
Deferred tax assets, net of deferred tax liabilities | ​ | $ | 1,783,667 | ​ | $ | 1,168,833

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