Note 7 - Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2014 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| |
|
December 31,
|
|
| |
|
2014
|
|
|
2013
|
|
|
Current provision:
|
|
|
|
|
|
|
|
Federal
|
|
$ |
(388,864 |
) |
|
$ |
583,558 |
|
|
State, net of state tax credits
|
|
|
(28,800 |
) |
|
|
220,896 |
|
| |
|
|
(417,664 |
) |
|
|
804,454 |
|
| |
|
|
|
|
|
|
|
|
|
Deferred provision:
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
1,403,100 |
|
|
|
(482,350 |
) |
|
State
|
|
|
355,000 |
|
|
|
(69,950 |
) |
| |
|
|
1,758,100 |
|
|
|
(552,300 |
) |
| |
|
|
|
|
|
|
|
|
|
Total income tax provision
|
|
$ |
1,340,436 |
|
|
$ |
252,154 |
|
|
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| |
|
December 31,
|
|
| |
|
2014
|
|
|
2013
|
|
|
Current deferred tax asset:
|
|
|
|
|
|
|
|
Deferred revenue
|
|
$ |
776,100 |
|
|
$ |
1,064,000 |
|
|
Deferred franchise costs
|
|
|
(253,900 |
) |
|
|
(362,800 |
) |
|
Allowance for doubtful accounts
|
|
|
30,800 |
|
|
|
- |
|
|
Accrued expenses
|
|
|
197,300 |
|
|
|
- |
|
|
Restricted stock compensation
|
|
|
(60,700 |
) |
|
|
- |
|
|
Deferred rent
|
|
|
35,500 |
|
|
|
- |
|
|
Charitable contribution carryover
|
|
|
400 |
|
|
|
- |
|
| |
|
|
725,500 |
|
|
|
701,200 |
|
|
Less valuation allowance
|
|
|
(516,700 |
) |
|
|
- |
|
|
Net current deferred tax asset
|
|
$ |
208,800 |
|
|
$ |
701,200 |
|
| |
|
|
|
|
|
|
|
|
|
Non-current deferred tax asset:
|
|
|
|
|
|
|
|
|
|
Deferred revenue
|
|
$ |
2,223,200 |
|
|
$ |
1,825,700 |
|
|
Deferred franchise costs
|
|
|
(679,000 |
) |
|
|
(469,100 |
) |
|
Restricted stock compensation
|
|
|
(170,600 |
) |
|
|
- |
|
|
Deferred rent
|
|
|
171,500 |
|
|
|
- |
|
|
Net operating loss carryforwards
|
|
|
38,200 |
|
|
|
- |
|
|
Asset basis difference related to property and equipment
|
|
|
(45,400 |
) |
|
|
(90,900 |
) |
| |
|
|
1,537,900 |
|
|
|
1,265,700 |
|
|
Less valuation allowance
|
|
|
(1,537,900 |
) |
|
|
- |
|
|
Net non-current deferred tax asset
|
|
$ |
- |
|
|
$ |
1,265,700 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| |
|
For the Years Ended December 31,
|
|
| |
|
2014
|
|
|
2013
|
|
| |
|
Amount
|
|
|
Percent
|
|
|
Amount
|
|
|
Percent
|
|
|
Expected federal tax expense
|
|
$ |
(574,900 |
) |
|
|
(34.0 |
)% |
|
$ |
138,633 |
|
|
|
34.0 |
% |
|
State tax provision, net of federal benefit
|
|
|
(72,500 |
) |
|
|
(4.3 |
) |
|
|
18,774 |
|
|
|
4.6 |
|
|
Effect of increase in valuation allowance
|
|
|
2,054,600 |
|
|
|
121.5 |
|
|
|
- |
|
|
|
- |
|
|
Non-deductible expenses
|
|
|
23,900 |
|
|
|
1.4 |
|
|
|
19,831 |
|
|
|
4.9 |
|
|
Uncertain tax positions
|
|
|
(20,900 |
) |
|
|
(1.2 |
) |
|
|
85,157 |
|
|
|
20.9 |
|
|
Effect of reduced state rates for deferred
|
|
|
33,000 |
|
|
|
2.0 |
|
|
|
- |
|
|
|
- |
|
|
Other, net
|
|
|
(102,764 |
) |
|
|
(6.0 |
) |
|
|
(10,241 |
) |
|
|
(2.5 |
) |
| |
|
$ |
1,340,436 |
|
|
|
79.3 |
% |
|
$ |
252,154 |
|
|
|
61.8 |
% |
|
| Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
| |
|
2014
|
|
|
2013
|
|
|
Uncertain tax benefit - January 1
|
|
$ |
114,500 |
|
|
$ |
29,500 |
|
|
Gross decreases - tax positions in prior period
|
|
|
(22,800 |
) |
|
|
- |
|
|
Gross increases - tax positions in current period
|
|
|
- |
|
|
|
85,000 |
|
|
Uncertain tax benefit - December 31
|
|
$ |
91,700 |
|
|
$ |
114,500 |
|
|