v3.26.1
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2026
Income Taxes [Abstract]  
Schedule of Provision for Income Taxes

The Company’s provision for income taxes consists of the following for the six months ended June 30, 2026 and 2025:

 

    2026     2025  
Current:            
Federal   $ -     $ 171,949  
State and local     -       -  
Total current     -       171,949  
                 
Deferred:                
Federal   $ -     $ (141,815 )
State and local     -       (45,293 )
Total deferred     -       (187,108 )
                 
Income tax provision (benefit)   $ -     $ (15,159 )
Schedule of Reconciliation of the Federal Statutory Rate

A reconciliation of the federal statutory rate of 21% for the six months ended June 30, 2026 and 2025 to the effective rate for (loss) income from operations before income taxes is as follows:

 

    2026     2025  
Benefit for income taxes at federal statutory rate     21.00 %     21.00 %
State and local income taxes, net of federal benefit     6.71       6.71  
Meals and entertainment     (0.42 )     (0.41 )
Other and prior-year true up     (27.29 )     (27.30 )
Effective income tax rate     - %     - %
Schedule of Deferred Tax Assets (Liabilities)

The tax effects of these temporary differences along with the net operating losses, net of an allowance for credits, have been recognized as deferred tax assets (liabilities) at June 30, 2026 and December 31, 2025 as follows:

 

    June 30,
2026
(unaudited)
    December 31,
2025
 
Net operating loss   $ 987,856     $ 695,067  
Accounts and contracts receivable     (500,214 )     (472,180 )
Prepaid expenses     (12,801 )     (20,780 )
Accounts payable and accrued expenses     215,289       245,192  
Depreciation     (150,929 )     (180,167 )
Stock-based compensation     1,486,084       1,486,084  
Lease liability     (30,679 )     (40,124 )
Net deferred tax asset (liability)     1,994,607       1,713,092  
Less: valuation allowance     (1,994,607 )     (1,713,092 )
    $ -     $ -