Income Taxes (FY) (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Income Tax Benefit

Income tax benefit for the years ending December 31 consisted of:

	2018			2018
Federal:
Current	$	(707,040	)	$	(4,689,749	)
Deferred		215,992			(754,514	)
State and local:
Current		(63,942	)		(456,626	)
Deferred		54,087			(202,040	)
Total	$	(500,903	)	$	(6,102,929	)

Reconciliation of Federal Statutory Rate to Effective Tax Rate

A reconciliation of the federal statutory rate to the effective tax rate for the years ended December 31 is set forth below:

	2019			2018
Statutory Federal income tax rate		21.0	%		21.0	%
State income tax, net of Federal benefit		-2.18	%		2.21	%
State Valuation Allowance		3.16	%		-0.24	%
Federal Valuation Allowance		0.20	%		-0.04	%
Dividends Received Deductions		0.00	%		0.32	%
Other		-1.33	%		-0.13	%
Effective income tax rate		20.85	%		23.12	%

Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows:

	2019			2018
Deferred tax assets:
Federal and State NOL Carryforward		174,590			229,095
Stock-based Compensation		-			30,096
Compensation		-			266,820
Other		5,359			33,952
Total Gross DTA		179,949			559,963
Less: Valuation Allowance		(174,590	)		(275,522	)
Total Deferred Tax Assets		5,359			284,441
Deferred tax liabilities:
Stock Based Compensation		(2,349	)		-
Deferred State Income Tax		(80	)		(11,432	)
		(2,429	)		(11,432	)
Net deferred tax assets		2,930			273,009