Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

The provision for income taxes for the years ended December 31, 2023 and 2022, consisted of the following:

	For the Year Ended December 31,
	2023			2022
Statutory rate applied to income before income taxes	$	193,962		$	256,841
Increase in income taxes results from:
Temporary differences		(1,971	)		(57,772	)
Non-deductible expenses		(11,500	)		7,121
Change in valuation allowance		—			—
Income tax expense	$	180,491		$	206,190

	2023			2022
Income tax benefit at US statutory rate of 21%		21.00	%		21.00	%
Income tax benefit - state		3.80	%		4.37	%
Non-deductible expense		-1.61	%		0.70	%
Change in temporary differences		-0.28	%		-5.71	%
Change in valuation allowance		0.00	%		0.00	%
Income tax expense		22.91	%		20.36	%

	2023		2022
Deferred tax assets:
Allowance for uncollectible	$	337,080	$	253,715
Stock compensation		28,336		11,257
Book to tax depreciation		25,584		23,192
Gross deferred tax assets		391,000		288,164
Valuation allowance		—		—
Net deferred tax assets	$	391,000	$	288,164