Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes Tables  
Schedule of deferred tax assets

Deferred tax assets were comprised of the following as of December 31, 2015 and 2014:

 

    2015   2014
         
Allowance for doubtful accounts   $ 88,000     $ 102,000  
Accrued expenses     160,000       157,000  
Current deferred tax asset     248,000       259,000  
                 
Intangible and fixed assets     (324,000 )     (550,000 )
NOL carryforward     3,600,000       2,600,000  
Long-term deferred tax asset     3,276,000       2,050,000  
                 
Total deferred tax asset     3,524,000       2,309,000  
Less valuation allowance     (3,524,000 )     (2,309,000 )
                 
Net deferred tax asset   $     $  

 

Schedule of benefit for income taxes

The benefit for income taxes differed from the amount computed using the U.S. federal income tax rate of 34% for December 31, 2015 and 2014 as follows:

 

    2015   2014
         
Income tax benefit (federal and state)   $ 972,000     $ 97,000  
Non-deductible items     (175,000 )     (320,000 )
State and other benefits included in valuation     418,000       (138,000 )
Change in valuation allowance     (1,215,000 )     361,000  
Income tax benefit   $     $