Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

Income tax expense (benefit) is comprised of the following:

	December 31,
	2015		2014
Federal:
Current	$	394,000	$	(450,000	)
Deferred	14,000		39,000
	408,000		(411,000		)
State:
Current	147,000		(91,000		)
Deferred	2,000		4,000
	149,000		(87,000		)
	$	557,000	$	(498,000	)

The provision for income taxes differs from the amount determined by applying the federal statutory tax rate to pre-tax income as a result of the following:

	December 31,
	2015					2014
Income taxes at statutory rate	$	543,000		34.0	%	$	(445,000	)	34.0	%
Increase (decrease) in taxes resulting from:
State income taxes, net of federal benefit	41,000			2.6	%	(47,000		)	4.5	%
Other	(27,000		)	(1.7	)%	(6,000		)	(2.4	)%
	$	557,000		34.9	%	$	(498,000	)	36.1	%

Deferred tax assets (liabilities) are as follows:

	December 31,
	2015			2014
Depreciation	$	(855,000	)	$	(663,000	)
Unrealized losses on investments available for sale	6,000			3,000
Allowance for doubtful accounts	147,000			105,000
Vacation accrued	105,000			91,000
Deferred income	302,000			161,000
State NOL carryforward	43,000			—
Other	62,000			81,000
Net deferred tax asset (liability)	(190,000		)	(222,000		)
Current portion, net	665,000			441,000
Long-term portion, net	(855,000		)	(663,000		)
	$	(190,000	)	$	(222,000	)