Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 586

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 4
Chunk 586
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)  
    $-  
    $73,069 
  
    Prepaid expenses and other current assets 
     276,563  
     316,718 
  
    Total other current assets 
    $276,563  
    $389,787 

    (1)
     
    Includes
    $50,000 for a federal refundable payroll tax credit, called the Employee Retention Tax Credit (“ERTC”) Tax Credit, which
    provides a credit to businesses who kept employees, or were negatively impacted, during the COVID-19 pandemic.

Note
6 – Property and Equipment

Property
and equipment at December 31, 2024 and December 31, 2023, consisted of the following:

 Schedule of Property and Equipment

    December 31,  
    December 31, 

    2024  
    2023 
  
    Office equipment – 5 year estimated life 
    $85,958  
    $81,340 
  
    Leasehold improvements – 2 year estimated life 
     60,783  
     60,783 
  
    Furniture and fixtures – 7 year estimated life 
     6,170  
     677 
  
    Property and equipment, gross 
     6,170  
     677 

    Less: Accumulated depreciation 
     (126,564) 
     (63,826)
  
    Total property and equipment, net 
    $27,347  
    $78,974 

Depreciation
of property and equipment was $62,738 and $48,771 for the years ended December 31, 2024 and 2023, respectively.

Note
7 – Accrued Expenses

Accrued
expenses at December 31, 2024 and December 31, 2023, consisted of the following:

 Schedule of Accrued Expenses

    December 31,  
    December 31, 

    2024  
    2023 
  
    Accrued payroll and taxes 
    $202,038  
    $148,924 
  
    Accrued expenses 
     28,345  
     50,054 
  
    Total accrued expenses 
    $230,383  
    $198,978 

The
Company provides postretirement benefits pursuant to IRS code section 401(k) for employees meeting specified criteria.