INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Components of income tax expense (benefit)

	December 31,
	2020			2019
Deferred:
Federal	$	39,000		$	49,000
State		(10,000	)		6,000
		29,000			55,000
Change in valuation allowance		(29,000	)		(55,000	)
	$	0		$	0

Deferred tax assets and liabilities

	December 31,
	2020			2019
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	1,550,000		$	1,650,000
Defined benefit pension liability		60,000			60,000
Operating Lease ROU		(30,000	)		(48,000	)
Operating Lease Liability		30,000			48,000
Deferred Revenue		11,000			0
Reserves and accrued expenses payable		293,000			233,000
Gross deferred tax asset		1,914,000			1,943,000
Deferred tax asset valuation allowance		(1,914,000	)		(1,943,000	)
Net deferred tax asset	$	0		$	0

Effective income tax rate reconciliation

	December 31,
	2020			2019
Statutory U.S. federal tax rate		21.0	%		21.0	%
Change in valuation allowance		(4.2	)		(115.6	)
Net operating loss carryforward expiration		13.4			71.5
State taxes		(1.5	)		12.8
Expired stock-based compensation		1.0			3.1
Forgiveness of PPP loan		(29.9	)		0.0
Other permanent non-deductible items		.2			7.2
Effective income tax rate		0.0	%		0.0	%