Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income Taxes

Note 5 - Income Taxes

For the years ended December 31, 2012 and 2011, the provision for income taxes consisted of the following:

	2012				2011
	Current		Deferred		Current		Deferred
Income tax expense	$	2,131,000	$	608,000	$	2,181,000	$	93,000

The following table reconciles the Company's effective income tax rate on income before income taxes to the Federal statutory rate for the years ended December 31, 2012 and 2011:

	2012			2011
Federal statutory rate		34.0	%		34.0	%
State income taxes, net of federal benefit		4.6			4.5
		38.6	%		38.5	%

Deferred taxes are comprised of the following at December 31, 2012 and 2011:

	December 31,			December 31,
	2012			2011
Deferred tax asset (liability)
Reserves and allowances	$	241,000		$	241,000
Fixed assets		(354,000	)		(199,000	)
Intangible assets		(333,000	)		-
Other		(120,000	)		-
Total net deferred tax asset (liability)	$	(566,000	)	$	42,000