-A discussion on how to properly handle self-employment taxes -
Online PR News – 18-May-2016 – Livingston, N.J. – –Michael H. Karu, CPA/CFF, Member, Levine, Jacobs & Company, L.L.C., was recently featured in a guide to business valuation on FitSmallBusiness.com. In the article, he discussed the basics of who has to pay self-employment taxes and when to stay compliant.
“Self-employment taxes are calculated based on your net business income. By deducting business expenses on your tax return, you reduce your net income and hence the amount of tax you owe. Karu says that the number one mistake small business owners make when paying their self-employment taxes is not to take advantage of deductions to reduce their taxable income.”
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To speak to and/or set up an interview with Michael Karu, please contact Amy Delman, Amy Delman Public Relations, LLC, 201.563.4614 or email@example.com
Michael H. Karu, 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.
He 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. He is a member of the New Jersey Society of Certified Public Accountants where he has been active in the Litigation Services Committee, Business Valuation Sub-Committee, State Healthcare Committee, Committee for Non-Profit Organizations, and the Committee for Young CPAs.
Levine, Jacobs provides a unique combination of twenty-first century accounting, business consulting and financial planning services to a diverse list of individuals located primarily in New Jersey, New York and Pennsylvania.
The firm prides itself on its teamwork abilities where “every account receives the talent and expertise of the whole firm.”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.