XML 32 R14.htm IDEA: XBRL DOCUMENT

Note 9 - Income Taxes

9 Months Ended

Sep. 30, 2013

NOTE 9: INCOME TAXES

The provision for income taxes includes the following:

	Nine Months Ended September 30,
	2013			2012

Current:
Federal	$	-		$	398,510
State		-			44,575
Total Current Provision		-			443,085
Deferred:
Federal	$	(498,382	)	$	139,141
State		(8,629	)		22,231
Total deferred		(507,011	)		161,372
Income tax expense	$	(507,011	)	$	604,457

We calculate our current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed. Adjustments for differences between our tax provisions and tax returns are recorded when identified, which is generally in the third or fourth quarter of our subsequent year.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details