Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income taxes

Note 5 – Income Taxes

The Company provides for income taxes under FASB ASC 740, Accounting for Income Taxes. FASB ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect currently.

FASB ASC 740 requires the reduction of deferred tax assets by a valuation allowance, if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the Company’s opinion, it is uncertain whether they will generate sufficient taxable income in the future to fully utilize the net deferred tax asset. Accordingly, a valuation allowance equal to the deferred tax asset has been recorded. The cumulative deferred tax asset for 2018 and 2017 is $10,441 and $2,575, respectively, which is calculated by multiplying a 21% estimated tax rate by the cumulative net operating loss (NOL) adjusted for the following items:

For the year ended December 31,	2018			2017
Book loss for the year	$	(38,161	)	$	(12,216	)
Permanent differences:
Meals and entertainment		704			47
Tax loss for the year		(37,457	)		(12,263	)
Estimated effective tax rate		21	%		21	%
Gross Deferred tax asset	$	7,866		$	2,575
Valuation allowance		(7,866	)		(2,575	)
Total Deferred tax asset		—			—

For the years ended December 31,	2018		2017
Balance at beginning of year	$	2,575	$	—
Additions		7,866		2,575
Deductions		—		—
Balance at end of year	$	10,441	$	2,575

Rate Reconciliation:

For the years ended December 31,	2018			2017
Federal income tax at stator rate	$	(8,014	)	$	(2,565	)
Permanent differences		148			9.87
Change in Valuation Allowance		7,866			2,575
	$	—		$	—

Uncertain Tax Positions

Unrecognized income tax benefits represent income tax positions taken on income tax returns but not yet recognized in the financial statements. If recognized, substantially all of the unrecognized tax benefits for the Company’s fiscal years ended December 31, 2018 and 2017 would affect the effective income tax rate. There were no unrecognized income tax benefits as of December 31, 2018 and 2017.

The Company recognizes the interest and penalties accrued related to unrecognized tax benefits in income tax expense. The Company did not recognize any expenses any interest and penalties as of December 31, 2018 and 2017, respectively.

All tax years since inception are open for examination by taxing authorities.