Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

12. Income Taxes

The provision for income taxes for the years ended December 31, 2022 and 2021, consisted of the following:

	2022			2021
Statutory rate applied to income before income taxes	$	256,841		$	303,634
Increase in income taxes results from:
Temporary differences		(57,772	)		(2,167	)
Non-deductible expenses		7,121			8,540
Change in valuation allowance		—			—
Income tax expense	$	206,190		$	310,007

	2022			2021
Income tax benefit at US statutory rate of 21%		21.00	%		21.00	%
Income tax benefit - state		4.37	%		4.59	%
Non-deductible expense		0.70	%		0.72	%
Change in temporary differences		-5.71	%		-0.18	%
Change in valuation allowance		0.00	%		0.00	%
Income tax expense		20.36	%		26.13	%

	2022		2021
Deferred tax assets:
Allowance for uncollectible	$	253,715	$	291,400
Stock compensation		11,257		16,300
Book to tax depreciation		23,192		39,300
Gross deferred tax assets		288,164		347,000
Valuation allowance		—		—
Net deferred tax assets	$	288,164	$	347,000