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Reviews reflect individual experiences and do not guarantee similar outcomes. Tax savings and other results depend on each person's facts and are not typical of all engagements. No reviewer was compensated for providing a review.
Greg Monaco, CPA, MBA · New Jersey CPA license · Last updated July 15, 2026
1099-NEC reconciliation, post-formation entity-tax analysis, S-Corp election when the full-return comparison supports it, and Schedule C deduction analysis. Greg remains responsible for every engagement and reviews, approves, and signs all client-facing work. Greg is the sole practitioner.
The work is technical. The conversation is not. I handle the platform-payout reconciliation and post-formation entity-tax analysis so you can stay focused on the business.
OnlyFans' payer entity - typically Fenix Internet LLC, the U.S. payer under UK parent Fenix International Limited - issues a 1099-NEC for your platform earnings, but whether Box 1 reflects gross fan payments or net 80% creator payout varies. I reconcile the form against your dashboard gross, dashboard net, and bank deposits, then map the result to Schedule C Line 1 with the platform fee on Line 10 - exactly the way the IRS Automated Underreporter expects to see it.
For an entity that already exists, I analyze federal and NJ tax classification, W-9 name/TIN placement, and whether an S-Corp election fits the full return. Monaco CPA does not form entities, obtain EINs, register DBAs, provide registered-agent services, or open bank accounts.
An eligible federal S-Corp election uses Form 2553. NJ recognition under P.L. 2022, c.133 also requires confirming the federal approval/effective date, privilege period, DORES registration, approval proof, Shareholder Jurisdictional Consent, and timely CBT-100S filing. Formation date is not the test. The federal election changes how creator income is split between reasonable W-2 wages and K-1 distributions. There is no universal profit threshold; the election has to be modeled on the full federal and NJ return.
NJ requires quarterly estimates if you'll owe more than $400. Federal safe harbor is 90% / 100% / 110% depending on income. Plus full Schedule C deduction analysis: gear, home studio, contractor pay, platform fees, software, and NJ Section 179 (NJ is decoupled from federal Section 179 under P.L. 2004, c.65; NJ cap is $25,000).
Most creators work across OnlyFans, Fansly, Fanvue, and off-platform P2P (Venmo, Cash App, crypto). Each platform reports differently - 1099-NEC, 1099-K, or no form. I reconcile the available records and document overlapping forms so income is not duplicated.
Client tax documents are exchanged through TaxDome, which publishes SOC 2 compliance and encryption-in-transit and encryption-at-rest controls. Engagement instructions identify the approved document channel.
Judgment-Free · Professional Confidentiality
You will not have to justify, explain, or defend your platform or your content to me. Every engagement is held to the AICPA professional confidentiality standard (ET §1.700.001), which means I do not disclose client information without your consent, except as required by law. Documents move through TaxDome - SOC 2 compliant, encrypted in transit and at rest. Entity formation, EIN acquisition, DBA registration, registered-agent services, and bank-account setup are outside Monaco CPA's scope. For an existing entity, the engagement may include tax-classification and W-9 name/TIN analysis.
If you have an existing entity or reporting setup, the intake can identify which tax records and classification questions are within the engagement and which legal or formation questions require another provider.
Self-prep software handles the federal Form 1040 and a basic Schedule C. It does not handle the things that actually trip up creators: the 1099-NEC gross-vs-net reconciliation, any actually issued Paxum or Skrill 1099-K covering the same transactions (a cash-out alone does not trigger the form), the OFM agency commission split, the NJ rules that diverge from federal (no QBI, no half-SE-tax deduction, estimated payments when expected NJ tax due is more than $400), and the entity-and-payroll comparison, which requires supportable reasonable compensation and a complete federal-and-NJ return model rather than a fixed profit threshold.
An out-of-state CPA can prepare your return - but NJ has its own rules and the quarterly estimated-tax penalty stack is real. NJ requires estimates if you will owe more than $400, the safe harbor is 80% (vs. federal 90%), and underpayment interest runs at roughly 10% annualized (prime + 3%, compounded annually). A CPA licensed in NJ knows the local mechanics and the BAIT election analysis if you ever want to consider it.
Run the calculator for an educational estimate or read the deep guide for the full background. Neither creates an engagement; service requests begin with the contact form and require a separately accepted written scope.
Plug in your gross subscriber revenue. Get an estimated quarterly federal + NJ + self-employment tax in seconds. No email gate.
Run the numbersComprehensive write-up: 1099 mechanics, KYC and banking, deductions (including the Hess cosmetic-surgery analysis), S-Corp planning, the mortgage underwriting trap, NJ specifics, and FAQ.
Read the guidePricing is public. Standard creator engagements run $750–$2,500. See the full pricing page →
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.
Start with the contact form to describe the records and tax questions. Any work begins only after the engagement scope, responsibilities, and fee are confirmed in writing.