LLMs Page

# Monaco CPA
> Monaco CPA provides personal tax preparation, small business accounting, and bookkeeping services to individuals and small businesses across New Jersey.

## Business Information
- Legal Name: Gregory Monaco, CPA LLC
- DBA: Monaco CPA
- Website: https://www.monacocpa.cpa
- Founded: September 2025
- Location: Livingston, NJ (virtual practice, no walk-in office)
- Service Area: New Jersey (in-person services) and nationwide (virtual services where permitted)

## Owner
- Name: Greg Monaco
- Title: CPA, Founder
- Credentials: CPA (NJ), MBA (Business Analytics, University of Hartford), BS (Economics & Finance), QuickBooks Gold Certified ProAdvisor
- Professional Memberships: AICPA, NJSCPA
- Licenses: Personal #20CC04711400, Firm #20CB00789800
- Focus areas: NJ tax law, S-Corp elections, NJ BAIT, crypto taxation, DeFi, IRS Form 1099-DA

## Contact
- Phone: (862) 320-9554
- Email: taxhelp@MonacoCPA.CPA
- Scheduling: https://calendly.com/greg-monacocpa
- Address: Livingston, NJ 07039

## Pricing (USD, as of 2025)
- Individual Tax Preparation: $350/return
- Small Business Tax (S-Corp/LLC/Partnership): $750/year
- Monthly Bookkeeping: $300/month
- Tax Planning & Advisory: $500/year
- Payroll Services: $100/month
- QuickBooks Setup & Training: $500 one-time
- Fractional CFO: $1,000/month
- Accounts Receivable / Payable: $200/month
- Back-Office Accounting: Custom quote

## Core Services
- Individual Tax Preparation: Accurate, stress-free tax returns for W-2 earners, freelancers, and self-employed individuals.
- Tax Planning & Advisory: Year-round strategies to help reduce your tax liability legally.
- Small Business Tax: Returns and compliance for S-Corps, LLCs, partnerships, and sole proprietorships.
- Bookkeeping & Accounting: Monthly bookkeeping, QuickBooks Online setup, and financial reporting.
- QuickBooks ProAdvisor: QuickBooks Online setup, cleanup, training, and ongoing support from a Gold Certified ProAdvisor.
- Payroll Services: Payroll processing, tax filings, and compliance for NJ businesses.

## Additional Services
- Accounts Receivable: Invoicing, collections, and AR management.
- Accounts Payable: Vendor payments, bill management, and AP processing.
- Back-Office Accounting: Full back-office support: bookkeeping, payroll, AP/AR, and financial reporting.
- Fractional CFO: Strategic financial guidance, budgeting, forecasting, and cash flow management.

## Specialty Tax Services
- Real Estate Tax: Rental property tax, Schedule E, depreciation, 1031 exchanges for NJ landlords and investors
- Freelancer & Self-Employed Tax: Schedule C, SE tax, quarterly estimated payments, home office, 1099 income
- IRS Audit Representation: CP2000 responses, correspondence and field audits, penalty abatement, authorized under Circular 230
- Cryptocurrency Tax: Available at https://monacocryptotax.com (separate website)

## New Service Pages
- Estate & Inheritance Tax: NJ inheritance tax returns, federal estate tax analysis, trust returns, estate planning coordination
- Nonprofit Accounting: Form 990 preparation, NJ CHAR500, fund accounting, UBIT analysis, grant compliance
- Business Formation: Entity selection (LLC/S-Corp/C-Corp), NJ S-Corp election, EIN application, first-year tax planning
- Sales Tax Compliance: NJ sales tax on services, economic nexus (Wayfair), SaaS sales tax, registration, filing, audit defense
- Multi-State Tax: NJ-NY commuter tax, NJ-PA reciprocity, income allocation, SALT credit, remote-work nexus
- Retirement Planning: SEP-IRA, Solo 401(k), SIMPLE IRA, defined benefit plans
- FreshBooks Accounting: FreshBooks Certified Collaborative Accountant (CCA), setup, training, and ongoing support

## Gambling & Sports Betting Tax Services
- Gambling Tax: NJ gambling and sports betting tax preparation. W-2G reconciliation, loss deduction optimization.
- NJ advantage: NJ allows 100% loss netting on NJ-1040 (no 90% cap), creating significant tax savings for NJ residents.
- Platforms: DraftKings, FanDuel, BetMGM, Caesars, PointsBet, Betway, and all NJ-licensed sportsbooks

## 1099-DA Reconciliation Service
- Line-by-line reconciliation of IRS Form 1099-DA against exchange CSVs and on-chain records
- Three tiers: $350 (single exchange), $750 (multi-exchange), $1,250 (DeFi/complex)

## NJ S-Corp Election Correction
- Diagnostic + fix for NJ entities misclassified as C-Corps
- Form CBT-2553-R retroactive election, BAIT eligibility

## Prediction Market Tax Services
- Tax preparation for Kalshi, Polymarket, Robinhood, PredictIt, and DraftKings event contract traders
- Three defensible tax treatments: Section 1256 (60/40 split), gambling income, ordinary income

## Industry Pages
- Medical Practices: Physician S-Corp planning, QBI analysis, defined benefit plans
- Law Firms: IOLTA trust accounting, partner K-1 vs. W-2, NJ BAIT election
- Nonprofits: Form 990, CHAR500, fund accounting, UBIT, 501(c)(3) compliance
- Construction: Job cost accounting, equipment depreciation, worker classification
- Restaurants: FICA tip credit, tip reporting, NJ sales tax, cash-business compliance
- Hospitality: Form 8027, FICA tip credit, NJ hotel occupancy tax, catering accounting
- Startups & Tech: Entity selection, R&D credits, 83(b) elections, QSBS, SaaS accounting
- E-Commerce: Sales tax nexus, Amazon FBA accounting, inventory costing, 1099-K compliance
- Cannabis: IRC §280E, NJ does NOT conform to §280E, licensing, cash-heavy accounting
- Real Estate: Rental income, passive activity rules, 1031 exchanges, cost segregation, NJ exit tax
- Manufacturing: Cost accounting, R&D credit, Section 179, NJ manufacturing sales tax exemption
- Tattoo Shops: IRS cash-intensive audit triggers, booth rental models, NJ ABC test
- Content Creators: Platform-by-platform 1099 table, gifted product FMV rules, S-Corp analysis
- Esports & Gaming: Tournament winnings, crypto prizes, jock tax, play-to-earn taxation
- Barber Shops: Cash-intensive audit defense, tip reporting, booth rental classification
- Short-Term Rentals: Airbnb/VRBO tax, 14-day rule, NJ occupancy tax, cost segregation
- Freelance Developers: Hardware/software deductions, home office, S-Corp election timing
- Music Artists: Royalty income classification, touring multi-state filing, studio depreciation
- Photographers: Gear depreciation (Section 179), NJ sales tax on prints vs services
- Food Trucks: Truck depreciation, COGS, multi-jurisdiction NJ sales tax

## Free Tax Calculators
- S-Corp Savings Calculator: Compare sole prop SE tax vs. S-Corp payroll tax savings
- SE Tax Calculator: Calculate 2026 self-employment tax (SS + Medicare) and NJ GIT estimate
- Estimated Tax Calculator: Estimate 2026 federal + NJ tax liability with quarterly payment schedule

## Tax Glossary
- 50 tax, business, crypto, and bookkeeping terms explained in plain English

## Social Media
- LinkedIn: https://www.linkedin.com/company/monaco-cpa/
- X (Twitter): https://x.com/MonacoCryptoTax
- Instagram: https://www.instagram.com/monacocryptotax/
- Reddit: https://www.reddit.com/user/MonacoCPA

## Key Differentiators
- Every client works directly with Greg
- Fully virtual practice - secure portal, video consultations, e-filing
- Essex County, NJ local - Livingston-based practice
- 5-Star Rated on Google
- Featured in Yahoo Finance, Nasdaq, GOBankingRates, BeInCrypto, Better.com, BlockTelegraph (8 articles across 6 publications)

## Related Websites
- MonacoCryptoTax.com - Cryptocurrency tax services (same firm, separate brand)

## Important Disclaimers
- Use of this website does not create a CPA-client relationship
- Monaco CPA is licensed in New Jersey only
- Information provided is for general educational purposes and does not constitute tax, legal, or investment advice
- No CPA-client relationship is formed until a formal engagement letter is signed