LIVINGSTON, NJ – Michael H. Karu, CPA/CFF, a member of the Livingston-based accounting firm Levine, Jacobs & Company, LLC, was recently featured on “CBS News” during a segment about the recent change in the alimony tax law.
Under the new federal law as of Jan. 1, alimony is no longer tax-deductible and the tax burden shifts from the person receiving alimony to the person paying it. Karu, who spoke about working with one couple in the final days of 2018 to meet the deadline, offered his thoughts alongside divorce attorneys and other experts.
“It’s just added another level,” Karu said. “What it’s really done is forced people to talk…Before they’d just let it go on and on and on. Well, now there’s a benefit to one spouse to get the divorce done.”
According to the research done for this segment, divorce attorneys saw a 20 percent increase in divorce filings in 2018. The full segment, which dives into how the change sparked a “holiday rush to divorce” over the last few weeks, can be found on CBS Local by clicking HERE.
Karu was also recently featured on two radio shows—WCTC-AM and TALKERS FM—speaking about steps taxpayers can take to maximize their tax refunds. Click HERE to read about his recommendations.
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. He is also a Certified Divorce Mediator and is certified in Financial Forensics.
To speak with and/or set up an interview with Michael Karu, contact Amy Delman of Amy Delman Public Relations, LLC, at 201-563-4614 or email@example.com.
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.” Click HERE to learn more.