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

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Our sources of income (loss) and income tax provision (benefit) are as follows (in thousands):

Schedule of Income Tax Provision

	2021			2020
	Years ended
	December 31,
	2021			2020
Income/(loss) from continuing operations before income taxes:
U.S.	$	(1,211	)	$	12,367
Non-U.S.		1,190			2,261
Total income/(loss) from continuing operations before income taxes:	$	(21	)	$	14,628

Provision (benefit) for taxes:
Current:
Federal	$	(887	)	$	2,037
State		244			347
Non-U.S.		-			81
Total current		(643	)		2,465
Deferred:
Federal		1,139			126
State		220			5
Non-U.S.		-			287
Total deferred		1,359			418
Noncurrent
Federal		-			-
State		-			-
Non-U.S.		-			-
Total noncurrent		-			-
Total income tax expense	$	716		$	2,883
Effective income tax rate		(3,409.5	)%		19.7	%

Schedule of Difference in Tax Provision

The difference between the tax provision at the statutory federal income tax rate and the tax provision attributable to income (loss) from continuing operations before income taxes is as follows (in thousands):

	2021			2020
	Years ended
	December 31,
	2021			2020
Computed expected federal tax benefit (expense)	$	(4	)	$	3,072
(Decrease) Increase in valuation allowance		-			(1,098	)
State income, net of federal benefit		367			278
Non-U.S. income taxed at different rates		(196	)		322
Intercompany Gain		738			-
Unrecognized tax benefits		-			309
Other		(189	)		-
Income tax expense	$	716		$	2,883

Schedule of Deferred Tax Assets and Liabilities

	2021			2020
	As of December 31,
	2021			2020
Deferred tax assets:
Net operating losses	$	136		$	1,357
Depreciation		-			(1	)
Valuation allowance		-			(1,331	)
Total deferred tax assets	$	136		$	25
Deferred tax liabilities:
Deferred course expenses	$	(34	)	$	-
Intercompany Debts		(1,595	)		-
Total deferred tax liabilities		(1,629	)		(159	)
Net deferred tax asset (liability)	$	(1,493	)	$	(134	)

Schedule of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:

Schedule of Unrecognized Tax Benefits

	As of December 31,
	2021		2020
Unrecognized tax benefits - January 1	$	309	$	309
Gross increases - tax positions in prior period		-		-
Gross decreases - tax positions in prior period		-		-
Unrecognized tax benefits - December 31	$	309	$	309

Schedule of Liability for Unrecognized Tax Benefits

	2021		2020
	As of December 31,
	2021		2020
Reduction of net operating loss carryforwards	$	-	$	-
Noncurrent tax liability (reflected in Other long-term liabilities)		309		309
Total liability for unrecognized tax benefits	$	309	$	309