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"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."
Monaco CPA is a virtual CPA practice serving Summit, New Jersey, providing personal tax preparation, small business accounting, and bookkeeping services to individuals and businesses throughout Union County and beyond.
Monaco CPA is a virtual CPA practice serving Summit, New Jersey, providing personal tax preparation, small business accounting, and bookkeeping services to individuals and businesses throughout Union 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.
As a New Jersey CPA familiar with the state's tax landscape, Monaco CPA combines local knowledge 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.
Summit is the wealthiest municipality in Union County, with a median household income approaching $200,000 and median home prices exceeding $1.3 million. Over 63% of family households earn above $200,000, and nearly 20% of residents work in finance and real estate. This concentration of high earners creates acute demand for sophisticated tax planning, particularly around the NJ BAIT election, multi-state income allocation, and equity compensation from the pharmaceutical and financial services sectors that anchor the local economy.
Roughly 25% of Summit residents work outside New Jersey, with many commuting to Manhattan via the NJ Transit Midtown Direct service from Summit station. That one-seat ride to Penn Station in 35 to 42 minutes makes Summit a natural home for Wall Street professionals, but it also means dual-state filing obligations. New York's convenience of the employer rule can tax work-from-home days as NY income, and proper workday allocation is critical for residents with RSU vestings, bonus payouts, and partnership K-1 income that must be sourced between states.
Summit's property tax bills routinely reach $20,000 to $38,000 depending on home value, and with NJ state income tax rates as high as 10.75%, total SALT exposure for high earners can exceed $80,000. The 2025 increase in the federal SALT cap to $40,000 helps some households, but residents earning above $600,000 effectively remain at the old $10,000 cap. For business owners with pass-through entities, the NJ BAIT election remains the most effective strategy to recover those lost deductions.
Whether you are a pharmaceutical executive at the Bristol-Myers Squibb campus on Morris Avenue, a managing director commuting to Midtown, or a small business owner serving the Summit downtown corridor, Monaco CPA provides the NJ tax guidance your situation demands. For residents considering a move, the NJ exit tax withholding on home sales can exceed $70,000 at Summit price levels, making advance planning essential. Use the estimated tax calculator to model your quarterly payments across both states.
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 one business day.
Monaco CPA provides services throughout Summit and Union 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.
"Great service and really efficient. The virtual process was straightforward and saved me a ton of time."
Eric R.
"Greg was very professional in helping me with my taxes. He broke it down and explained all the details. He was very easy to communicate with. I am all set for this year and I will be returning next year for the same service. His tax planning and strategies helped me save money."
Brandon B.
"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.
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.
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, I inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
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.