Levine, Jacobs & Company, LLC, Senior Member Offers Insight On Taxes And Federal Pensions
Levine, Jacobs & Company, LLC, Senior Member Offers Insight On Taxes And Federal Pensions.
- Newark, NJ (1888PressRelease) February 08, 2022 - Michael H. Karu, CPA/CFF, Senior Member, Levine, Jacobs & Company, LLC., was quoted on NJ.com where he discussed the process of 'double taxes' on house sales. The rules can be quite confusing.
In the article, ‘Do I Have to Pay Taxes Twice on this Home Sale?’ Karu stated that it is necessary to file an income tax return and pay tax on the gain, "when you sell property in New Jersey, you need to file an income tax return and pay tax on the gain."
He continued, “On your Wisconsin tax return, you will need to report the same sale, you can take a credit for taxes paid to New Jersey, which should offset Wisconsin tax."
Lastly, Karu recommended reaching out to a tax preparer with future questions.
To read the article, please click here.
To speak with and/or set up an interview with Levine, Jacobs & Company, please contact Amy Delman, Amy Delman Public Relations, LLC, 201.563.4614 or amydelmanpr ( @ ) verizon dot net dot
Michael H. Karu, CPA/CFF, Senior 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 Certified in Financial Forensics a Chartered Global Management Accountant, and a Certified Divorce Mediator.
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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