Levine, Jacobs & Company, LLC, Senior Member Explains Sales Tax On Gifts

Top Quote Michael H. Karu, CPA/CFF, quoted on NJ.com regarding how sales tax on gifted items. End Quote
  • Newark, NJ (1888PressRelease) March 04, 2021 - Michael H. Karu, CPA/CFF, senior member, Levine, Jacobs & Company, LLC., was highlighted on NJ.com where he answered the question, “Do I have to pay sales tax on a car that was gifted?

    According to Karu, “The New Jersey Motor Vehicle Commission may request documentation of the gift. While it may now be too late, my advice would not have been to gift the car to you, but rather for you to receive it as a bequest after he passes.”

    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 the 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 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.”

    Media Contact:
    Amy Delman
    Amy Delman Public Relations, LLC
    amydelmanpr ( @ ) verizon dot net

  • FB Icon Twitter Icon In-Icon
Contact Information