Questions? Ask SAM
AI Tax & Accounting Assistant - powered by Monaco CPA
"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 Westfield, 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 Westfield, 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 focused on the state's complex tax code, 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.
Westfield's median household income of $212,700 places it among the wealthiest towns in Union County, with over 52% of households earning above $200,000. The leading employment sectors for residents are finance and insurance (where median male earnings exceed $250,000), professional services, and management. This concentration of corporate executives, Wall Street professionals, and attorneys creates layered tax complexity that goes well beyond basic preparation. For business owners with S-Corps, partnerships, or LLCs, the NJ BAIT election can recover tens of thousands in federal deductions lost to the SALT cap.
Westfield sits on the NJ Transit Raritan Valley Line, with service to Newark Penn Station in about 20 minutes and connections to NY Penn Station for a total commute of roughly 56 minutes. The NJ Transit 113 express bus offers an alternative one-seat ride to Port Authority. This heavy NYC commuting pattern means dual-state filing is the norm for Westfield households. New York's convenience of the employer rule taxes remote work-from-home days as NY income for most hybrid workers, and proper workday allocation is essential for residents with RSU vestings, stock option exercises, and bonus payouts that must be sourced between states.
Property tax bills in Westfield range from $15,800 at the median to over $27,000 at the 90th percentile, and NJ state income tax rates reach 10.75% on income above $1 million. New Jersey also taxes all capital gains as ordinary income with no preferential long-term rate, pushing the combined federal and NJ rate on long-term gains to 34.55%. NJ does not allow capital loss carryforwards, so annual tax-loss harvesting timing is critical. For residents with cryptocurrency holdings, these same rules apply to every digital asset disposition.
Westfield's award-winning downtown is experiencing a historic wave of new business openings alongside the $400 million One Westfield Place redevelopment. Whether you are a finance professional navigating equity compensation across state lines, a new business owner in the downtown district weighing LLC formation and entity structure, or a long-term homeowner planning for the NJ exit tax on a future relocation, Monaco CPA provides the tax guidance your situation requires. 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 Westfield 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.
Practical tax advice, deadline reminders, and money-saving strategies delivered to your inbox. No spam, unsubscribe anytime.
By subscribing, you agree to the Privacy Policy.
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.