Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment

Property and Equipment

7. Property and Equipment

Major classes of property and equipment consisted of the following as of the periods presented below:

	DECEMBER 31,		DECEMBER 31,
	2023		2022
Computer hardware and software	$	3,355,488	$	3,158,428
Furniture and fixtures		503,913		502,391
Leasehold improvements		330,040		284,321
Automobiles		128,994		122,524
Gross property and equipment		4,318,435		4,067,664
Less: accumulated depreciation and
amortization		3,537,635		3,089,446
Property and equipment, net	$	780,800	$	978,218

During the years ended December 31, 2023 and 2022, the Company purchased for cash property and equipment totaling approximately $208,200 and $245,000, respectively.

During the years ended December 31, 2023 and 2022, property and equipment depreciation expense was approximately $402,000 and $397,700, respectively.

During the years ended December 31, 2023 and 2022, there were no material disposals of owned property and equipment.

There were no changes in the estimated useful lives used to depreciate property and equipment during the years ended December 31, 2023 and 2022.