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Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. We record uncertain tax positions on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

The (benefit) expense for income taxes consists of:

Year Ended December 31,
202120202019
Current:
Federal
$(1,011)$— $— 
State
— 4 — 
Deferred and Other:
Federal
— — (2,000)
State
———
Total tax expense (benefit)$(1,011)$4 $(2,000)
The reconciliation between our effective tax rate on income from operations and the statutory rate is as follows:
Year Ended December 31,
202120202019
Income tax (benefit) expense at federal statutory rate$2,373 $1,568 $(5,909)
State and local income taxes net of federal tax benefit— 4 — 
AMT refund(1,011)— — 
Permanent differences(1,758)(1,766)(2,406)
Timing differences
Deferred gains
(4,893)(878)(588)
Basis difference on fixed assets
(720)1,307 — 
Other basis/timing differences
(2,729)2,296 3,173 
Generation (use) of net operating loss carryforwards7,727 (2,527)3,730 
Calculated income tax expense (benefit)$(1,011)$4 $(2,000)
Effective tax rate— %— %0.6 %
We are subject to taxation in the United States and various states and foreign jurisdictions.  As of December 31, 2021, our tax years for 2021, 2020, and 2019 are subject to examination by the tax authorities.  With few exceptions, as of December 31, 2020, we are no longer subject to U.S federal, state, local, or foreign examinations by tax authorities for the years before 2016.
Components of the Net Deferred Tax Asset or Liability
December 31,
20212020
Cumulative foreign currency translation loss$1,088 3,818 
Basis difference for fixed assets706 1,426 
Deferred gain(2,937)1,956 
Net operating loss carryforward15,146 7,107 
14,003 14,307 
Less: valuation allowance(14,003)(6,480)
$— $7,827 
We have state net operating losses in many of the various states in which we operate.
We assess the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. At December 31, 2021, we had a net deferred tax asset due to tax deductions available to us in future years. However, as we could not determine that it was more likely than not that we would realize the benefit of the deferred tax asset, we established a 100% valuation allowance.