Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Change in Valuation Allowance

The following table summarizes the change in the valuation allowance during 2016 and 2017 (in thousands):

Balance at December 31, 2015	$	31,922
Change during 2016		(264	)
Balance at December 31, 2016		31,658
Change during 2017		(1,726	)
Balance at December 31, 2017	$	29,932

Schedule of Components of Income Tax Expense (Benefit)

The reported tax expense varies from the amount that would be provided by applying the statutory U.S. Federal income tax rate to the income (loss) before income tax expense for the following reasons in each of the years ending December 31 (in thousands):

	2017			2016
Expected federal statutory tax benefit	$	(228	)	$	14
Increase (reduction) in taxes resulting from:
State income taxes recoverable		21			21
Non-deductible expenses (permanent differences)		51			45
Change in valuation allowance		(1,726	)		(264	)
Tax rate changes		1,477			—
Other		(15	)		205
Income tax (benefit) expense	$	(420	)	$	21

Schedule of Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows in (thousands):

	2017			2016
Net operating loss carry forwards	$	29,303		$	29,909
Stock based compensation		610			1,070
Write-down of real estate inventory		—			1,569
Trade names		(690	)		(1,363	)
Customer relationships		(123	)		(293	)
Fair value adjustment of contingent consideration		168			(55	)
Other		152			(139	)
Gross deferred tax assets		29,420			30,698
Less: valuation allowance		(29,932	)		(31,658	)
Deferred tax assets (liabilities), net of valuation allowance	$	(512	)	$	(960	)