Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

The components of income tax expense for the following periods are as follows (in thousands):



	For the year ended
	December 31,
	2015		2014			2013
Current:
Federal	$	129	$	82		$	93
State	131		27			30
Current tax expense	$	260	$	109		$	123

Deferred:
Federal	—		(3		)	—
State	—		(1		)	1
Deferred tax expense	—		(4		)	1
Total tax expense	$	260	$	105		$	124

Schedule of Effective Income Tax Rate Reconciliation

The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRSs before taxes were as follows (in thousands):



	For the year ended
	December 31,
	2015			2014			2013
Book income (loss) before income taxes	$	2,384		$	(520	)	$	(2,080	)

Statutory rate of 34% applied to pre-tax income	$	810		$	(178	)	$	(707	)
Effect of state and local income taxes, net of federal tax benefit	97			(14		)	(82		)
Provision to return and deferred adjustment	211			40			118
Permanent adjustments and other	140			—			—
Change in valuation allowance	(998		)	257			795
Total expense	$	260		$	105		$	124

Effective tax rate	10.91		%	(20.19		)%	(5.96		)%

Schedule of Deferred Tax Assets and Liabilities

The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2015 and 2014 are as follows (in thousands):



	For the year ended
	December 31,
	2015			2014
Deferred tax assets:
Allowance for doubtful accounts	$	36		$	28
Other	489			230
Valuation allowance	(240		)	(248		)
Current deferred tax asset	$	285		$	10
Non-current
Total book to tax difference in partnership	$	(356	)	$	(165	)
Net operating loss	130			1,214
Valuation allowance	(59		)	(1,049		)
Non-current deferred tax asset	$	(285	)	$	—
Net deferred tax asset	$	—		$	10