Note 8: Income Taxes: Schedule of components of Deferred Tax Liabilities (Tables)

12 Months Ended

Dec. 31, 2012

Tables/Schedules

Schedule of components of Deferred Tax Liabilities

		December 31
		2012		2011
Assets
Future policy benefits	$	(4,160,489)	$	(4,597,137)
Loan loss reserve		(2,353,765)		(1,210,791)
Unearned premium		(1,830,492)		(1,861,264)
Available for sale securities		(599,528)		(116,501)
Net operating loss		(1,099,500)		(1,235,365)
Deferred compensation		(1,238,270)		(766,503)
Deposit obligations		(1,060,205)		-
Other		(1,090,409)		(603,447)
Less: Valuation allowance		6,328,931		3,640,327
Total deferred tax assets		(7,103,727)		(6,750,681)
Liabilities
Deferred policy acquisition costs		9,945,683		9,526,785
Basis difference in property and equipment		5,739,272		3,917,124
Value of business acquired		3,341,888		4,077,709
Deferred gains		2,790,709		1,996,967
Trusts		1,599,657		2,385,770
Tax on unrealized appreciation		996,488		834,025
Total deferred tax liabilities		24,413,697		22,738,380
Net deferred tax liability	$	17,309,970	$	15,987,699