v3.25.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes [Abstract]  
Schedule of Components of Profit (Loss) Before Income Tax Benefits (Expenses)

The components of profit (loss) before income tax benefits (expenses) are summarized as follows:

 

   For the Years Ended
December 31,
 
   2024   2023   2022 
PRC  $3,233,722   $(11,527,235)  $(1,243,361)
Non-PRC   (3,171,966)   (449,764)   (1,306,645)
Total  $61,756   $(11,976,999)  $(2,550,006)
Schedule of Income Tax Benefits (Expenses)

Income tax benefits (expenses) consist of the following:

 

   For the Years Ended
December 31,
 
   2024   2023   2022 
Current income tax expenses  $(47,518)  $(69,467)  $(138,188)
Deferred income tax (expenses) benefits   (287,651)   739,227    (134,125)
Income tax (expenses) benefits  $(335,169)  $669,760   $(272,313)
Schedule of Reconciliation of the Statutory Tax Rate to the Effective Tax Rate

Below is a reconciliation of the statutory tax rate to the effective tax rate:

 

   For the Years Ended
December 31,
 
   2024   2023   2022 
PRC statutory income tax rate   25%   25%   25%
Effect of different tax rates for preferential tax benefits and other jurisdiction   (788.22)%   2.57%   10.61%
Effect of non-deductible expenses   96.85%   (2.61)%   (1.22)%
Effect of research and development credits   (20.44)%   3.57%   3.06%
Effect of deferred tax rate change   -%   (19.63)%   (34.22)%
Effect of changes in valuation allowance   (1,229.54)%   (3.31)%   (13.91)%
Effective tax rate   542.73%   5.59%   (10.68)%
Schedule of Deferred Tax Assets

Deferred tax assets as of December 31, 2024 and 2023 consist of the following:

 

   December 31,
2024
   December 31,
2023
 
Deferred tax assets:        
Excess advertising expense  $
-
   $47,503 
Net operating loss carrying forward   1,706,177    1,049,699 
Share-based compensation   195,422    186,497 
Lease liabilities   21,281    109,499 
Others   25,249    26,727 
Less: Deferred tax liability   (201,872)   (346,059)
Less: Valuation allowance on deferred tax assets   (1,626,832)   (715,989)
Deferred tax assets, net  $119,425   $357,878 
Deferred tax liability          
Changes in fair value of short-term investments   22,879    137,546 
Upward adjustments in investments in an equity security   (6,153)   3,333 
Right-of-use assets   15,739    114,666 
Unbilled revenue   349,045    218,764 
Less: Deferred tax assets   (201,872)   (346,059)
Deferred tax liability, net  $179,638   $128,250