General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

v3.21.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of components of deferred taxes
               
    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)
               
    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  
      (106,000 )        
Change in valuation account     (4,000 )     (29,500 )
Income tax expense (benefit)   $     $