Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.25.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of components of deferred taxes
               
    Year Ended December 31,
    2024   2023
Deferred tax assets:                
Net operating loss carry forwards   $ 2,277,000     $ 2,444,000  
Operating Lease – Right of Use Asset     172,496       —  
Other     —       195,000  
Total deferred tax assets     2,449,496       2,639,000  
Deferred tax liabilities:                
 Property and equipment     (521,358 )     —  
Intangibles     (120,123 )     (225,000 )
Goodwill      (195,154 )     —  
Right of Use Liability     (158,947 )     —  
Other     —       (65,000 )
Total deferred tax liabilities     (995,582 )     (290,000 )
                 
Valuation Allowance     (1,492,945 )     (2,349,000 )
                 
Net deferred taxes   $ (39,031 )   $ —  

Schedule of expected income tax expense benefit
               
    2024   2023
U.S. Federal Statutory Rate     21.0 %     21.0 %
State Taxes     6.9 %     7.3 %
                 
Other permanent and prior period adjustments     5.7 %     9.1 %
Valuation allowance     (37.0 )%     (37.4 )%
Income tax provision     — %     — %