9) Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Tables/Schedules

Schedule of Deferred Tax Assets and Liabilities

	December 31
	2019	2018
Assets
Future policy benefits	$ (12,450,229)	$    (8,293,592)
Loan loss reserve	(1,053,256)	(938,496)
Unearned premium	(760,556)	(823,299)
Available for sale securities	-	(366,279)
Net operating loss	(438,420)	(593,272)
Deferred compensation	(1,996,865)	(1,677,118)
Deposit obligations	(619,633)	(610,769)
Other	(1,020,718)	(185,557)
Less: Valuation allowance	2,439,394	-
Total deferred tax assets	(15,900,283)	(13,488,382)
Liabilities
Deferred policy acquisition costs	15,536,717	15,255,960
Basis difference in property and equipment	3,638,512	4,309,162
Value of business acquired	2,074,096	1,210,690
Deferred gains	5,169,104	6,267,373
Trusts	1,064,387	1,064,387
Tax on unrealized appreciation	5,694,286	1,030,008
Total deferred tax liabilities	33,177,102	29,137,580
Net deferred tax liability	$  17,276,819	$   15,649,198