Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of components of deferred taxes

Deferred Tax Assets:

 

    2020     2019  
             
Net operating loss carry-forward   $ 1,313,000     $ 1,419,000  
                 
Less: valuation allowance     (1,313,000 )     (1,419,000 )
                 
Net deferred tax asset   $ —     $ —  
Schedule of expected income tax expense (benefit)

The difference between the expected income tax expense (benefit) and the actual tax expense (benefit) computed by using the Federal statutory rate of 21% is as follows:

 

    Year Ended December 31,  
    2020     2019  
Expected income tax benefit (loss) at statutory rate of 21%   $ 79,000 )   $ 22,000  
State and local tax benefit (loss), net of federal     27,000 )     7,500  
Change in valuation account     (4,000 )     (29,500 )
Income tax expense (benefit)   $ —     $ —