Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) are as follows:

	For the Three Months Ended March 31,
	2014		2013
Current Federal alternative minimum tax (“AMT”) expense	$	—	$	—
Current state and local tax expense		—		—
Deferred Federal tax expense		366,000		138,000
Deferred state and local tax expense		4,000		28,000
Consolidated income tax expense, including taxes attributable to discontinued operations (A)		370,000		166,000
Less income tax (benefit) attributable to discontinued operations		(235,000)		(99,000)
Income tax expense (B)	$	605,000	$	265,000

(A) Includes income taxes attributable to income (loss) from discontinued operations.

(B) Reflects the tax expense from continuing operations as reported on the consolidated statements of income for the period presented.