Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 9 - INCOME TAXES

Income tax expense (benefit) for the years ended December 31, 2020 and 2019 are comprised of the following:

	2020			2019
Current federal income tax	$	(276	)	$	246
Current state income tax		46			254
Deferred income tax (benefit)		-			(344	)
Income tax expense (benefit)	$	(230	)		156

Significant components of the Company’s deferred income tax assets (liabilities) are as follows at:

	December 31
	2020			2019
Deferred tax assets (liabilities):
Employee accruals	$	70		$	74
Cash to accrual		(15	)		(31	)
Accrued workers’ compensation and other		26			33
State deduction		-			7
Acquisition fees		-			14
Sec. 163(j) interest limitation		38			-
Federal and State net operating loss carryforwards		79			-
Deferred tax liabilities:
Intangibles		(5	)		-
Fixed assets		(19	)		(13	)
Deferred income taxes, net		173			85
Valuation allowance		(173	)		(85	)
Deferred tax assets (liabilities)	$	-		$	-

The income tax provision, reconciled to the tax computed at the statutory federal rate, is as follows:

	December 31
	2020					2019
Tax expense at federal statutory rate	$	(214	)	21	%	$	74		21	%
State income taxes, net		(54	)	5.3	%		20		5.7	%
Meals and entertainment		1		-0.1	%		2		0.7	%
Penalties		-		-			5		1.3	%
Nondeductible acquisition costs		-		-			16		4.6	%
Valuation allowance		88		-8.7	%		85		16.7	%
Other, net		(51	)	6.2	%		(46	)	13.3	%
Income tax expense	$	(230	)	22.58	%	$	156		21.3	%