v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Taxes [Abstract]  
INCOME TAXES

NOTE 10 – INCOME TAXES

 

As of March 31, 2026, the Company has available for federal income tax purposes a net operating loss carry forward of approximately $807,965 that may be used to offset future taxable income. The company has provided a valuation reserve against the full amount of the net operating loss benefits, since in the opinion of management based upon the earnings history of the Company, it is more likely than not that the benefits will not be realized.

 

Due to changes in the Company’s ownership, the Internal Revenue Code may limit the future use of its existing net operating losses. All or a portion of the remaining valuation allowance may be reduced in future years based on an assessment of earnings sufficient to fully utilize these potential tax benefits.

 

The Company has decreased the valuation allowance by $51,019 from $220,692 as of December 31, 2025 to $169,673 as of March 31, 2026. We have adopted the provision of ASC 740-10-25, which provides recognition criteria and a related measurement model for uncertain tax positions taken or expected to be taken in income tax returns. ASC 740-10-25 requires that a position taken or expected to be taken in a tax return be recognized in the financial statements when it is more likely than not that the position would be sustained upon examination by tax authorities. Tax positions that meet the more likely than not threshold is then measured using a probability weighted approach recognizing the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company had no tax positions relating to open income tax returns that were considered to be uncertain.

 

Net deferred tax assets consist of the following components as of March 31, 2026 and December 31, 2025

 

    2026     2025  
             
Deferred tax assets:            
Bad debt Expense   $ -     $ -  
NOL Carryover   $ 169,673     $ 220,692  
                 
Sub Total   $ 169,673     $ 220,692  
Valuation Allowance   $ (169,673 )   $ (220,692 )
Net Deferred Tax Asset   $ -     $ -  

 

The provision for income taxes consists of the following:
    March 31,     December 31,  
    2026     2025  
Current:            
Federal   $ 10,204     $ 3,436  
State     -       -  
Foreign - Current     -       6,187  
Foreign - Prior Year             -  
Total current tax provision   $ 10,204     $ 9,623  
Deferred:                
Federal     -       -  
State     -       -  
Foreign     -       -  
Total deferred benefit     -       -  
Total provision for income tax   $ 10,204     $ 9,623