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INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES

NOTE 13 – INCOME TAXES 

Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss, and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The U.S. federal income tax rate of 21% is being used.

Income taxes consist of the following components as of:

        
   December 31, 2024   December 31, 2023 
Federal income tax benefit attributable to:          
Current Operations  $1,294,226   $901,551 
Less: Valuation Allowance   (1,294,226)   (901,551)
Net provision for Federal income taxes  $—     $—   

The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years ended December 31, 2024 and 2023, due to the following:

        
   December 31, 2024   December 31, 2023 
Deferred tax asset attributable to:          
Net operating loss carryover  $2,706,210   $1,411,984 
Less: Valuation Allowance   (2,706,210)   (1,411,984)
Net deferred tax asset  $—     $—   

 

At December 31, 2024, the Company had net operating loss carry forwards of $12,886,715 which would result in a deferred tax asset of $2,706,210 that may be offset against future taxable income from the year 2025 to 2040. No tax benefit has been reported in the December 2024 and 2023 consolidated financial statements since the potential tax benefit is offset by a valuation allowance of the same amount.

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal Income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.