Deferred Taxes

12 Months Ended

Dec. 31, 2019

Deferred Taxes [Abstract]

Deferred Taxes

Note 4. Deferred Taxes

Deferred taxes relate to the earlier recognition of certain revenue and the later recognition of certain expense for tax purposes. Deferred tax assets consist primarily of prepaid tax on accrued expenses, prepaid tax on deposits, deferred revenues, and Federal benefit for tax reserves. Deferred tax liabilities consist primarily of tax on unrealized pretax gains. The deferred tax assets and liabilities for the three years ended December 31 are as follows:

	2017	2018	2019
Deferred tax assets	$9,223,246	$8,257,144	$7,160,037
Deferred tax liabilities	19,154,929	12,409,407	26,951,474