INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

The Company is subject to taxation in the United States and California. The benefit from income taxes for the years ended December 31, 2023 and 2022 are summarized below:

	2023		2022
Current:
Federal	$	-	$	-
State		-		-
Total current		-		-

Deferred:
Federal		11,827		3,875
State		-		-
Change in valuation allowance		-		-
Total deferred		11,827		3,875
Income tax provision (benefit)	$	11,827	$	3,875

SCHEDULE OF DEFERRED TAX ASSETS

At December 31, 2023 and 2022, deferred tax assets (liabilities) consist of the following:

SCHEDULE OF DEFERRED TAX ASSETS

	2023			2022

Net operating loss carry-forwards	$	14,777		$	3,651
Inventory reserve		1,260			1,260
Accrued interest – related party		(9,781	)		-
Accrued expenses – related party		(7,560	)		-
Unrealized loss on investments		25,373			30,785
Total deferred tax assets		24,069			35,696
Less: valuation allowance		-			-

Net deferred tax assets	$	24,069		$	35,696

SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE RECONCILIATION

A reconciliation of the statutory federal income tax rate for the year ended December 31, 2023 and 2022 to the effective tax rate is as follows:

	2023			2022
Expected federal tax		21.00	%		21.00	%

Valuation allowance					-	%

Total		21	%		21	%

Quarta-Rad, Inc. 10-K/A