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Bookkeeping
Aug 7, 20264 min read
Your Books Are a Business Tool, Not a Year-End Chore
A practical overview of keeping records usable for day-to-day business decisions rather than treating the ledger as an afterthought.
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Practical guidance on tax preparation, business accounting, and financial planning from a NJ CPA.
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Bookkeeping4 min read
Catch-Up Bookkeeping vs. Cleanup Bookkeeping: What's the Difference?
A practical distinction between recording missing activity and reviewing activity that was already recorded.
Aug 7, 2026Read more
Tax Tips22 min read
The $2,000 Rule: Why No 1099 Does Not Mean No Reporting or Tax in 2026
OBBBA Section 70433 raised the 1099-NEC reporting threshold from $600 to $2,000 for payments made after December 31, 2025. That changes a payer's federal form-filing duty, not whether receipts belong in gross income. Return-filing rules, the Schedule SE threshold, deductions, and the complete return determine whether tax is due.
Apr 4, 2026Read more
Crypto Tax19 min read
Are Crypto Gas Fees Tax Deductible? What the IRS Says in 2026
Crypto gas treatment depends on the transaction: acquisition, disposition, swap, transfer, service, or failed/reverted call. A failure does not automatically create zero proceeds, short-term capital loss, or an ordinary business deduction.
Apr 4, 2026Read more
Tax Tips17 min read
Venmo, Cash App, and Zelle Taxes in 2026: What's Actually Taxable and What's Not
The 1099-K $600 threshold never took effect. OBBBA Section 70432 permanently restored the original threshold of more than $20,000 and more than 200 transactions. But personal payments were never taxable, Zelle never issues 1099-Ks, and gross reporting traps still catch sellers every year. Here is what actually matters.
Apr 4, 2026Read more
Bookkeeping11 min read
Bookkeeping Cleanup Cost: What Small Businesses Actually Pay in 2026
Educational third-party market ranges for bookkeeping cleanup can run roughly $750-$3,500 for shorter backlogs, but that is not a Monaco CPA fee quote. Any Monaco scope, price, records, and timing exist only in accepted writing.
Apr 1, 2026Read more
Tax Tips & Strategy22 min read
Gambling Tax Planning for Married Couples: Filing Status, Loss Allocation, and the NJ Advantage (2025-2026)
Should married gamblers file jointly or separately? How are losses allocated when one spouse gambles? What happens when one spouse's winnings push the couple into IRMAA or affect the other's benefits? NJ CPA Greg Monaco explains the filing status strategies, loss allocation rules, and NJ-specific planning that married gambling couples need for 2025-2026.
Mar 23, 2026Read more
Tax Guides17 min read
Fantasy Sports Taxes: DFS, Season-Long Leagues, and the Trophy Tax Nobody Talks About (2025-2026)
DFS winnings, season-long fantasy prizes, and office pool trophies can all be taxable. This guide covers DFS vs. season-long leagues, 1099-MISC reporting, the hobby vs. business question, and NJ-specific rules for fantasy sports income. CPA Greg Monaco explains.
Mar 23, 2026Read more
Tax Guides31 min read
Every NJ Sportsbook and Casino Tax Form: A Platform-by-Platform Guide (2025-2026)
DraftKings, FanDuel, BetMGM, Caesars, theScore Bet, and 15 more - how each NJ platform reports your winnings, where to find your tax documents, and what the OBBBA changed for 2026. NJ CPA Greg Monaco breaks down the forms, thresholds, and platform quirks that trip up NJ bettors every tax season.
Mar 23, 2026Read more
Tax Guides27 min read
Trading Card Taxes: The Complete 2025-2026 Guide for Sports Cards, Pokemon, and TCG Collectors
Sports cards, Pokemon, Magic: The Gathering, and other trading cards are generally treated as collectibles, capping long-term gains at 28% instead of the 15-20% stock rates. This guide covers that treatment (and its limits), hobby vs. business classification, 1099-K reporting, grading decisions, box breaks, and NJ-specific rules. CPA Greg Monaco explains the tax rules every card collector and dealer needs to know.
Mar 23, 2026Read more
Tax Guides19 min read
You Just Won Big at a New Jersey Casino - Here's Exactly What to Do (Tax Guide 2025-2026)
Hit a jackpot at an Atlantic City casino? NJ CPA Greg Monaco walks through the 2026 OBBBA changes, NJ's same-year category netting on the NJ-1040, and the reporting mistakes NJ casino winners commonly make.
Mar 23, 2026Read more
Tax Guides21 min read
Gambling Session Reporting: Authority Limits, Records, and the 2026 Loss Cap
Session-based measurement is a position whose support depends on the activity, asserted transaction unit, records, and authority. This guide distinguishes nonprecedential advice, persuasive cases, and an unfinalized slot proposal; it does not present a universal casino, poker, online, or sportsbook safe harbor.
Mar 23, 2026Read more
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