Levine, Jacobs & Company, LLC, Member Offers Advice on Home Office Deductions
Michael H. Karu, CPA/CFF quoted on NJ.com.
- Newark, NJ (1888PressRelease) January 21, 2021 - Michael H. Karu, CPA/CFF, Senior Member, Levine, Jacobs & Company, LLC., was highlighted on NJMoneyHelp.com where he answered the question: “Since the pandemic started, I have worked at home instead of going into my office. I am not reimbursed by my employer. I set aside a small area in my living room where I have a desk, a table and a computer. Am I entitled to a home office deduction for this?”
“Home office expenses are only allowable if you have a business operating from your home,” Karu stated. “As an employee, no deduction is allowed.”
According to the Tax Cuts and Job Act, Karu explains, “miscellaneous itemized deductions were virtually eliminated.” He further elaborates, “Employee business expenses were in that category.”
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To speak with and/or set up an interview with Michael Karu, please contact Amy Delman, Amy Delman Public Relations, LLC, 201.563.4614 or amydelmanpr ( @ ) verizon dot net dot
Michael H. Karu, CPA/CFF, is a member of Levine, Jacobs & Company, LLC, a Livingston-based accounting and consulting firm. He is qualified by the Superior Court of New Jersey, Family Part, as an expert witness and as an authority on business valuations, specifically for closely held or family-owned businesses. Additionally, he is a Certified Divorce Mediator and is Certified in Financial Forensics.
Karu received his B.S. degree in Business Administration from The Ohio State University and holds professional memberships in the American Institute of Certified Public Accountants, the AICPA Tax Division and the AICPA Business Valuation, Forensics and Litigation Services Section, as well as the NJ State Society of CPAs. Karu is a published author of numerous articles seen in trade and consumer publications and has been a guest on radio and television shows.
Levine, Jacobs & Company, L.L.C. maintains memberships in the American Institute of Certified Public Accountants and the New Jersey Society of Certified Public Accountants. The firm prides itself on its teamwork abilities where “every account receives the talent and expertise of the whole firm.”
Media Contact:
Amy Delman
Amy Delman Public Relations, LLC
201.563.4614
amydelmanpr ( @ ) verizon dot net
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