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NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies)
6 Months Ended
Jun. 30, 2021
Policies  
Income Taxes

Income Taxes

 

Income taxes are accounted for in accordance with the provisions of ASC Topic 740, Accounting for Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized, but no less than quarterly.

 

For interim periods, the Company uses the effective income tax rate method resulting in zero income tax for the six months ended June 30, 2021 and 2020.