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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Current and Deferred Income Tax Provision (Benefit)

For each of the years ended December 31, 2020 and 2019, current tax provisions and current deferred tax provisions were recorded as follows:

		Years ended December 31,
		2020				2019
Current Tax Provision
Federal		$	-			$	-
State			(14,000	)			(25,000	)
Foreign			5,000				2,000
			(9,000	)			(23,000	)
Deferred Tax Provision
Federal			-				-
State			(12,000	)			2,000
Foreign			27,000				(6,000	)
			15,000				(4,000	)
Total Tax Provision
Federal			-				-
State			(26,000	)			(23,000	)
Foreign			32,000				(4,000	)
		$	6,000			$	(27,000	)

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax assets and liabilities have been reported in other liabilities in the consolidated balance sheets at December 31, 2020 and 2019 as follows:

		As of December 31,
		2020				2019
Deferred Tax Assets:
NOL carryforwards		$	1,873,000			$	14,730,000
UK NOL carryforwards			572,000				552,000
Allowance for doubtful accounts			193,000				92,000
Compensation and vacation accrual			-				57,000
Operating accruals			-				6,000
Research and experimentation, AMT and foreign tax credits			126,000				126,000
Texas margin tax credit			91,000				106,000
Fixed assets and intangibles			397,000				-
Lease liabilities			9,000				854,000
Other			704,000				846,000
Total gross deferred tax assets			3,965,000				17,369,000
Valuation allowance			(3,516,000	)			(16,218,000	)
Net deferred tax assets			449,000				1,151,000
Deferred Tax Liabilities:
Capitalized software			354,000				497,000
Right of use assets			10,000				544,000
Fixed assets and intangibles			-				45,000
Foreign			47,000				47,000
Other			4,000				-
Total gross deferred liabilities			415,000				1,133,000
Net deferred taxes		$	34,000			$	18,000

Schedule of Reconciliation of Expected Income Taxes

The reconciliation of computed expected income taxes to effective income taxes by applying the federal statutory rate of 21% is as follows:

		As of December 31,
		2020				2019
Tax at federal income tax rate		$	930,000			$	424,000
State provision			(26,000	)			(23,000	)
Foreign tax differential			35,000				(2,000	)
Change in valuation allowance			(939,000	)			(429,000	)
Permanent items			6,000				3,000
Total Provision		$	6,000			$	(27,000	)

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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
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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

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-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.

+ 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=84230637&loc=d3e32687-109319

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