Levine, Jacobs & Company, LLC, Senior Member Clarifies How Taxes are Calculated on IRA Withdrawal

Michael H. Karu, CPA/CFF discusses how to calculate taxes on IRA withdrawals. End Quote

Newark, NJ (1888PressRelease) August 20, 2022 - Michael H. Karu, CPA/CFF, Senior Member, Levine, Jacobs & Company, LLC., was highlighted on NJ.com where he discussed how taxes are calculated on IRA withdrawals.

Karu spoke about the importance of understanding tax liability before withdrawing funds from a retirement account. “You are only taxed on the withdrawal… it does not matter how much is earned within the IRA.” He stated.

In addition, he further continued, “there are age restrictions on withdrawals, which may cost an additional 10% tax penalty on the full amount withdrawn.”

To read the article, please click here: https://bit.ly/3zVFoji

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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