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Income tax (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense (benefit)

The provision (benefit) for income taxes for the years ended December 31, 2023 and 2022 consist of the following:

  

   2023   2022 
Current taxes from continuing operations:          
Federal  $-   $- 
State   8,160    6,768 
Total current   8,160    6,768 
           
Taxes from discontinued operations(1):          
Federal  5,783    7,615 
State   5,783    7,615 
Tax provision from discontinued operations   13,943    14,838 
           
Deferred tax asset:          
Federal   (273,400)   107,700 
State   1,100    18,300 
Change in valuation   (272,300)   (126,000)
Total provision (benefit)  $13,943   $14,383 

 

(1)We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3.
Schedule of income tax rate reconciliation

  

    2023     2022  
Net income (loss) before income tax - continuing operations   $ 3,087,919     $ (605,342 )
US federal income tax rate     21 %     21 %
                 
Computed expected tax (benefit) - continuing operations     648,463       (127,122)  
                 
Net Income (loss) before income tax - discontinued operations (1)     83,682       252,800  
US federal income tax rate   21%       21%  
Computed expected tax (benefit) - discontinued operations   17,573       53,088  
                 
Total computed expected tax (benefit)   666,036       (74,034)  
Permanent differences and other     (393,736)       200,034  
Change in valuation     (272,300)       (126,000)  
Federal income tax provision   $ -     $ -  

 

(1)We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3.
Schedule of deferred tax assets

The significant components of deferred income tax assets as of December 31, 2023 and 2022 after applying enacted corporate income tax rates are as follows:

 Schedule of deferred tax assets 

   2023   2022 
Net Operating Losses carried forward from continuing operations  $1,913,000   $1,851,100 
Capital Losses carried forward   156,600    371,200 
Deferred - Other   -    62,500 
Valuation allowance   (2,069,600)   (2,284,800)
Deferred tax assets  $-   $- 

 

    2023     2022  
Net Operating Losses carried forward from discontinued operations (1)   $     -     $ 57,100  
Capital Losses carried forward     -       -  
Valuation allowance     -       (57,100)  
Deferred tax assets   $ -     $ -  

 

(1)We sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented as discontinued operations. See Note 3.