Small Business Finance

Prepare Your Books with This Year-End Bookkeeping NJ Checklist As 2025 approaches, NJ small business owners should begin closing out the year’s books early. A clean year-end bookkeeping NJ process ensures your tax filing goes smoothly — and that you catch issues before the new year begins. Step 1: Reconcile All Accounts Confirm that your bank, credit card, and loan accounts match your bookkeeping records. ✅ Run reconciliation reports ✅ Investigate discrepancies immediately

Compare SEP, SIMPLE, and Solo 401(k) plans for New Jersey small business owners. Learn how each plan saves on taxes and builds your retirement faster.

Control Cash Flow with Accounts Payable NJ For NJ small business owners, managing accounts payable NJ is key to steady cash flow and avoiding last-minute stress. Paying strategically, not just promptly, can make or break your liquidity. Step 1: Centralize All Payables Use cloud tools like Bill.com or QuickBooks Online to manage vendor bills and sync with your bookkeeping software . Benefits: No duplicate payments Organized due dates Remote access Step 2: Schedule Smart Payme

Financial guidance for NJ therapy practices: overcome tax, billing & cash flow stress with a CPA by your side.

Discover 5 signs your New Jersey business could benefit from a fractional CFO. Learn how part-time CFO services boost cash flow, strategy, and growth.

In today's fast-paced business environment, the role of a Certified Public Accountant (CPA) has evolved significantly. No longer confined to the traditional tasks of tax filing and bookkeeping, proactive CPAs are now essential partners in driving business growth and strategic decision-making. This blog post explores the multifaceted role of a proactive CPA, highlighting how they differ from conventional accountants and the continuous advisory support they provide throughout t

Mastering Accounts Receivable NJ for Stronger Cash Flow For consultants, agencies, and professionals in Livingston and Roseland, managing accounts receivable NJ efficiently means faster payments and fewer headaches. Step 1: Set Clear Terms for Accounts Receivable Use written agreements with clear due dates (Net 15/30). Offer early-payment incentives (2% off within 10 days). Send invoices promptly from your bookkeeping system . Step 2: Automate Client Reminders QuickBooks and

Learn how to choose between an LLC and S-Corporation for your New Jersey business. Compare tax advantages, legal differences, and which option can save you money with guidance from Gregory Monaco, CPA in Livingston, NJ.

Know Your Numbers — The Three Core Financial Statements NJ Owners Should Understand If you run a service-based business in Essex County, your bookkeeping software already generates powerful reports. But to manage your company effectively, you must understand the financial statements NJ owners depend on. 1️⃣ Profit & Loss (Income Statement) — A Key Financial Statement for NJ Businesses Your P&L shows revenue, expenses, and profit. It answers: “Am I making money, and where do

Stop dreading tax season. Learn how proactive, year-round tax planning helps NJ small businesses save money, reduce stress, and avoid April surprises. Get expert help from Gregory Monaco, CPA in Livingston, NJ.

Taxes are a fact of life for small business owners, but smart planning can keep more money in your pocket. As a business owner in Essex County, New Jersey  – whether you run a boutique in Short Hills or a consulting firm in Roseland – you know every dollar counts. This guide to small business tax deductions NJ entrepreneurs can use will walk you through ways to lower your tax bill legally. We'll cover common deductions, NJ-specific tips, and how proactive tax planning can ma

Go Paperless, Stay Prepared For business owners in Livingston, Short Hills, and across Essex County, paperless bookkeeping in NJ isn’t just about convenience — it’s about clarity. When your receipts, invoices, and bank records are digitized, you reduce stress, eliminate clutter, and keep your books audit-ready all year. Why Paperless Bookkeeping Matters Paper fades, gets lost, or piles up. Digital records are easier to search, organize, and back up. Using integrated apps wit

Intro:  When you’re a busy entrepreneur in New Jersey, bookkeeping tasks often fall to the back burner. Many Livingston  and Short Hills  business owners start out doing their own books, only to discover how easy it is to make errors that cost time and money. In fact, studies have found that 60% of small business owners feel they lack accounting knowledge , and poor financial practices contribute to 82% of small business failures . Yikes! The good news is that these problems

If you’re a small business owner in Livingston, Short Hills, or anywhere in Essex County, NJ, you’ve likely heard about S-Corporations as a way to save on taxes. Running your business as an S-Corp can indeed cut your tax bill but only if you balance your salary and shareholder distributions correctly. Pay yourself too little salary and you risk IRS penalties; pay yourself too much and you might miss out on tax savings. In this guide, we’ll break down S Corp salary vs. distrib

Keeping your books accurate means more than just recording transactions. Every month, your financial records need a checkup — that process is called reconciliation. For small business owners in Livingston, NJ, and across Essex County, regular bank and credit card reconciliations are the foundation of reliable financial statements and smooth tax filings. Here’s your step-by-step playbook to reconcile like a pro (or with your CPA’s help) every month. What Is Bank Reconciliation

Whether you’re a consultant, contractor, designer, or medical professional in Livingston, NJ, understanding your chart of accounts (COA) is critical to managing accurate financial records. This foundational bookkeeping structure determines how every transaction flows into your reports — and ultimately how you make decisions and file taxes . Let’s break down what a chart of accounts is, why it matters, and how to tailor one for your New Jersey service business. What Is a Char

Understanding financial statements can seem overwhelming for many business owners. However, having a solid grasp of these documents is crucial for making informed decisions and steering your business towards success. This guide aims to simplify the essential components of financial statements, allowing you to read them like a Chief Financial Officer (CFO). By the end, you will understand the income statement, balance sheet, and cash flow statement, along with key metrics that

Choosing between cash and accrual accounting is one of the most important decisions a small business owner can make. For businesses in Livingston, NJ, and throughout Essex County, the method you select affects how you record income, manage taxes, and interpret your company’s performance. This guide explains the differences between cash and accrual accounting, how each impacts your books, and how to decide which method best fits your business goals. A calculator and tax docum

Running a small business in Livingston, NJ comes with enough moving parts — managing clients, vendors, and daily operations — that bookkeeping can often slip down the priority list. Yet accurate bookkeeping isn’t just about compliance; it’s the backbone of financial clarity, smarter tax planning , and long-term profitability. In this guide, we’ll walk through the fundamentals of small-business bookkeeping, why it matters, and how you can implement simple, effective practices

In the fast-paced world of small business finance, maintaining accurate bookkeeping is not just a necessity; it’s a cornerstone of success. For business owners in New Jersey, developing strong bookkeeping habits can significantly improve decision-making and ensure tax readiness. This blog post will explore five essential bookkeeping habits that every NJ business owner should build, along with practical QuickBooks tips to streamline the process. By the end of this post, you’ll