Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 666

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 666
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As
disclosed in Note 3 of the consolidated financial statements, we sold our entire ownership interest in WCI, our facilities operations
segment, on October 4, 2023 for $6,000,000. Following our sale of WCI, we received no new income from WCI and had no further involvement
or continuing influence over its operations. Consequently, our facilities operations segment was eliminated at the time of sale. Additionally,
the results of operations associated with our facilities operations segment were excluded from our continuing operations and presented
as a discontinued operation in our consolidated financial statements. WCI worked with business park owners, governmental centers, and
apartment complexes to reduce their facility-related operating costs. The WCI facilities operations segment is now reported as a discontinued
operation. See Note 3 of the consolidated financial statements for detailed financial information on our former facilities operations
segment.

Note
18 – Income tax

The
provision (benefit) for income taxes for the years ended December 31, 2024 and 2023 consist of the following:

 Schedule of components of income tax expense (benefit)

    2024  
    2023 
  
    Current taxes from continuing operations: 

    Federal 
    $-  
    $- 
  
    State 
     15,329  
     8,160 
  
    Total current 
     15,329 
     8,160 

    Taxes from discontinued operations(1): 

    Federal (1)
     -  
     - 
  
    State (1)
     -  
     5,783 
  
    Tax provision plus discontinued operations (1)
     15,329  
     13,943 

    Deferred tax asset: 

    Federal 
     98,300  
     (273,400)
  
    State 
     (156,600) 
     1,100 
  
    Change in valuation 
     58,300 
     (272,300)
  
    Total provision (benefit) 
    $15,329  
    $13,943 

    (1)
    We
    sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented
    as discontinued operations. See Note 3.

The
Company has net deferred tax assets resulting from a timing difference in recognition of