Income Taxes (Tables)

9 Months Ended

Sep. 30, 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 September 30,				For the Nine Months Ended September 30,
	2014		2013		2014		2013
Current Federal alternative minimum tax (“AMT”) expense	$	39,000	$	6,000	$	51,000	$	6,000
Current state and local tax expense		106,000		—		140,000		—
Deferred Federal tax expense		557,000		354,000		1,403,000		760,000
Deferred state and local tax expense		7,000		73,000		129,000		156,000
Consolidated income tax expense, including taxes attributable to discontinued operations (A)		709,000		433,000		1,723,000		922,000
Less income tax (benefit) attributable to discontinued operations		(34,000)		(36,000)		(351,000)		(159,000)
Income tax expense (B)	$	743,000	$	469,000	$	2,074,000	$	1,081,000

(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.