Michael Karu, CPA/CFF quoted in personal finance article.
- Newark, NJ (1888PressRelease) July 20, 2022 – Michael H. Karu, CPA/CFF, Member, Levine, Jacobs & Company, LLC., was highlighted on NJMoneyHelp.com and NJ.com where he clarified withdrawing from 529 plans and the impact on taxes.
Karu stated, The only portion of the distributions from 529 plans that are taxable when the funds are not used for qualified educational expenses is the increment between the contributed amount and the withdrawn amount. He further elaborates, As a precaution, you should check with the fiduciary to confirm that no income will be reported on Form 1099-Q.
To read the article, please click here.
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.
Amy Delman Public Relations, LLC
amydelmanpr ( @ ) verizon dot net