"Greg was very easy to work with. I had a complicated scenario that he was able to manage, with complete confidence. I would highly recommend using him."
"I've had a great experience working with Greg Monaco. He is incredibly detail-oriented and thorough, making sure everything is handled correctly and fully compliant. What really stood out to me is how proactive and dedicated he is."
"Monaco CPA is excellent to work with! Greg is detail-oriented, knowledgeable, and prompt. He's been instrumental in helping me get my business off the ground with a strong financial foundation."
"If you need a CPA or accountant in Livingston or Essex County, I highly recommend Greg at Monaco CPA. My wife and I switched because my old accountant often didn't return my calls. Greg is different."
"I've been working with Greg Monaco, CPA for a few years now, and he's honestly saved me real money with both personal tax help and crypto tax stuff."
"I've been working with Gregory Monaco CPA LLC for my taxes, and I couldn't be happier with the experience. Extremely professional, thorough, and organized from start to finish."
Testimonials reflect individual client experiences and do not guarantee similar outcomes. Tax savings and other results depend on each client's facts and are not typical of all engagements. No client was compensated for providing a review.
Monaco CPA is a virtual CPA practice serving Madison, New Jersey, providing personal tax preparation, small business accounting, multi-state tax planning, and bookkeeping services to individuals and businesses across Morris County and beyond.
Monaco CPA is a virtual CPA practice serving Madison, New Jersey, providing personal tax preparation, small business accounting, multi-state tax planning, and bookkeeping services to individuals and businesses across Morris County and beyond.
Founded by Greg Monaco, CPA, the practice is built on a simple idea: you deserve the same level of attention and care that large corporations receive from their accounting firms. Whether you are a Midtown Direct commuter in finance, a pharmaceutical executive managing equity compensation, or a Drew University professor juggling consulting income alongside your faculty salary, Monaco CPA can help.
Monaco CPA combines thorough knowledge of the NJ tax landscape with the convenience of a fully virtual practice. All consultations are conducted via video call or phone, and documents are exchanged securely through an encrypted client portal. No need to find parking on Main Street or wait in a downtown office.
Madison residents face layered tax complexity driven by high incomes, significant property tax exposure, and a commuter workforce split between Manhattan and the Morris County corporate corridor. With a median household income of $171,471 and average property taxes of $14,959, most Madison households exceed the federal SALT cap before counting any state income tax. The 2025 increase to $40,000 ($40,400 for 2026) provides relief for earners under $500,000 MAGI, but for Madison's highest-income families, the cap phases back down, making BAIT elections for pass-through entity owners an essential planning strategy.
An estimated 30 to 40 percent of Madison's working residents commute to New York City via Midtown Direct service from the historic Madison station. These households must file both a NJ resident return and a NY nonresident return, claiming a credit for taxes paid to New York. Hybrid work has complicated this further: New York's Convenience of the Employer rule can treat days worked from your Madison home office as NY income, increasing your NY tax obligation. Maintaining a log of daily work location is one of the simplest and most important steps you can take.
Morris County hosts 14 of the world's top 20 pharmaceutical companies, and Madison sits at the center of this cluster. Pharma executives receiving RSUs, incentive stock options (ISOs), and deferred compensation under Section 409A face some of the most intricate tax planning in any profession. ISOs create no ordinary income tax at exercise but generate significant AMT exposure, while ongoing M&A activity in the pharma sector makes golden parachute provisions under Section 280G a recurring concern. Monaco CPA helps model these scenarios before vesting dates and exercise windows arrive.
Beyond commuters and corporate professionals, Madison's economy includes two universities, a growing Giralda Farms campus with law firms and advisory practices, and a vibrant Main Street with nearly 1,900 businesses. Whether you are forming an LLC, evaluating an S-Corp election, managing capital gains from investment accounts, or exploring crypto tax reporting, Monaco CPA provides tax guidance tailored to Madison's professional community. Use the estimated tax calculator to project your quarterly NJ and federal obligations.
Your CPA knows your name and your situation.
Livingston-based virtual CPA licensed in New Jersey, serving clients statewide.
Secure portal, video consultations, and e-filing from anywhere.
All inquiries answered within 1–2 business days.
Monaco CPA provides services throughout Madison and Morris County, NJ, including:
Accurate, stress-free tax returns for W-2 earners, freelancers, and self-employed individuals.
Year-round strategies to help reduce your tax liability legally.
Returns and compliance for S-Corps, LLCs, partnerships, and sole proprietorships.
Monthly bookkeeping, QuickBooks Online setup, and financial reporting.
QuickBooks Online setup, cleanup, training, and ongoing support from a Gold Certified ProAdvisor.
Payroll processing, tax filings, and compliance for NJ businesses.
"Greg took the time to listen to my concerns and answer my tax related questions and put my mind at ease. I would definitely recommend to others."
Mike D.
"If you need a CPA or accountant in Livingston or Essex County, I highly recommend Greg at Monaco CPA. My wife and I switched because my old accountant often didn't return my calls. Greg is different. He always gets back to me the same day, handles everything himself, and offers flexible virtual meetings. Most firms either pass you off to someone else or take too long to respond. Greg is always available and gives you his full attention from start to finish. Greg managed our personal taxes with great attention to detail. He found several missed deductions, which saved us a lot of money. His strong knowledge of NJ tax law, helpful advice, and focus on clients make him stand out. It's nice to work with a CPA who treats you like a person, not just another client."
Tom M.
"I was in a significant amount of debt, and wasn't sure how to pay it off comfortably. I consulted with Greg, and he helped me formulate a strategy to pay it off, while still remaining comfortable. It was so helpful for me, because I was constantly stressed out about it. Now, I'm so confident in our strategy that I don't even think about my debt anymore! If you're ever looking for someone to help out for your financial needs, I can't recommend Greg enough! Easiest 5 stars that I can give!"
Abhiram R.
These testimonials reflect individual client experiences and do not guarantee similar outcomes. Results vary based on each client's specific facts and circumstances. No client was compensated for providing a review. Tax savings and outcomes depend on individual tax situations and are not typical of all client experiences.
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Schedule a free consultation to discuss your tax, accounting, and bookkeeping needs.
Tax advice disclaimer: This material is for general educational information only and is not legal, tax, or accounting advice for your specific facts. A CPA-client relationship is formed only through a signed engagement letter.
Monaco CPA is licensed by the New Jersey State Board of Accountancy (Firm License #20CB00789800). Services are provided remotely to clients nationwide. Monaco CPA does not maintain physical offices outside New Jersey and does not hold CPA firm permits in other states.