LIVINGSTON, NJ — Charles Ott, CPA/MBA, a co-managing member at Levine, Jacobs & Company, LLC in Livingston, was recently highlighted by a New Jersey-based news provider, where he discussed a reader’s question about “Roth accounts” and whether the state would be likely to give the reader “a good deal taxwise.”
Specifically, the readers asked the following question:
“I’m an RN in my late 30s and trying to be conscientious of retirement planning. I’ve read that all retirement income becomes taxable once you surpass $100,000, but what about Roth accounts? I’m trying to decide if New Jersey will give me a good deal or not taxwise.”
As part of the NJ.com article, Ott responded to the reader as follows:
“As the reader noted, a qualified distribution from a Roth IRA is excludable from income and not included on a taxpayer’s New Jersey return. That means Roth IRA income, as long as it’s withdrawn properly, will not affect the pension exclusion calculation that starts with ‘Total Income, Line, 27 of your NJ-1040.’”
Ott further elaborates that other types of income that can be excluded include New Jersey municipal and federal government bond interest.
Ott is a tax professional who has spent his entire career providing tax and accounting services to clients around the tri-state area. From individual clients and small businesses to some of the area’s largest corporations, Ott prides himself on delivering reliable and knowledgeable tax and advisory services for almost two decades.
Additionally, Ott has held several leadership roles in private accounting and academia, such as being a member of the Adjunct Faculty at Philadelphia University, where he taught graduate-level courses in Individual and Small Business Tax and Accounting as part of the Masters of Science in Taxation Program. Ott is an alumnus of both the University of Phoenix Online, where he earned a master’s degree in business administration and accounting, and Rider University, where he earned a Bachelor of Science degree in accounting.
To read the article, click here. To speak with and/or set up an interview with Ott, contact Amy Delman of Amy Delman Public Relations, LLC at 201-563-4614 or email@example.com.
Levine, Jacobs & Company, LLC. 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.”