"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…"
"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 that includes…"
"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…"
"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. He answers quickly, breaks things down in a way that's…"
"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. He takes the time to explain…"
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.
SEP-IRA, Solo 401(k), SIMPLE IRA, and defined benefit plans, with the NJ tax nuances that most CPAs miss.
Retirement plan services for NJ self-employed individuals and small business owners include plan selection analysis (SEP-IRA vs. Solo 401(k) vs. SIMPLE IRA vs. defined benefit), NJ-specific tax treatment review, contribution optimization, and plan setup coordination. This service covers retirement plan analysis for S-corp owners, LLC members, sole proprietors, and partnerships in New Jersey.
Choosing the wrong retirement plan costs NJ small business owners thousands of dollars a year, not just in taxes, but in missed contribution opportunities. The right plan depends on your income level, whether you have employees, your entity structure, and critically, how NJ treats each plan type on your state return.
This service covers S-corp owners, self-employed individuals, LLC members, and small business owners selecting, modeling, and setting up the right retirement plan. A thorough tax analysis supports an informed decision, rather than defaulting to whatever a broker recommends.
The NJ difference most CPAs miss: New Jersey treats self-employed retirement plans differently than the IRS, and the difference flips the usual ranking. New Jersey excludes contributions to IRC Section 401(k) plans under N.J.S.A. 54A:6-21; NJ guidance describes this exclusion for 401(k) contributions generally and does not clearly address employer profit-sharing contributions to a Solo 401(k), so that share's treatment should be confirmed for your facts - your employee elective deferrals are clearly excluded. By contrast, SEP-IRA, SIMPLE IRA, and traditional IRA contributions are NOT deductible on the NJ-1040 (N.J.S.A. 54A:6-26 disallows the IRA deduction); NJ instead treats those as creating NJ basis in the account, recoverable tax-free in retirement under the 3-Year Rule (full recovery in the first 36 months of distributions) or the General Rule (proportional). So for a NJ self-employed owner the Solo 401(k) is usually the NJ-superior choice - its deferrals earn a current NJ exclusion that the SEP/SIMPLE/IRA options do not. NJ wage guidance describes an employee's 401(k) exclusion as covering employer contributions to the employee's plan; defined-benefit employer contributions, by contrast, are taxable for NJ - the 54A:6-21 exclusion covers only 401(k) plans. Choose among plans on contribution limits, employee coverage, and cash flow - and factor in this real NJ exclusion difference.
2026 contribution limits (per IRS Notice 2025-67): Solo 401(k): $72,000 total ($24,500 employee deferral + employer match up to 25% of W-2 compensation). SEP-IRA: 25% of compensation (effectively about 20% of net SE income), up to $72,000. SIMPLE IRA: $17,000 employee deferral (up from $16,500 in 2025) + 3% employer match. Defined Benefit plan annual benefit limit: $290,000 (up from $280,000). IRA limit: $7,500 (up from $7,000); catch-up $1,100 for 50+ ($8,600 total).
Share the basics through the contact form and expect a response within 1–2 business days with a clear next step.
Get StartedView PricingA clear, fixed process from first contact to filing - you always know what happens next.
I review your net self-employment income, W-2 compensation, entity structure, and employee situation to determine which plans are available to you.
I model the federal and NJ state tax savings for each plan option at your income level, showing you the actual after-tax dollar difference between plans.
I recommend the optimal plan and help you set it up with a custodian before the applicable deadline (under SECURE 2.0 a Solo 401(k) can be adopted as late as the tax filing deadline including extensions to make first-year employer contributions, though salary deferrals generally require a year-end election).
Maximum allowable contribution calculated each year, coordinated with payroll and bookkeeping, ensuring the deduction is properly claimed on both federal and NJ returns.
"I was looking for a crypto tax expert because I've been trading in the crypto space for the last couple years and wanted to get my taxes done right. Going to a traditional CPA would have been okay, but with Greg he really knew what was needed to get my taxes aligned. Thanks Greg!"
Amiel B.
These reviews reflect individual experiences and do not guarantee similar outcomes. Results vary based on each person's specific facts and circumstances. No reviewer was compensated for providing a review. Tax savings and outcomes depend on individual tax situations and are not typical of all engagements.
Start with the contact form. I will review your situation and reply within 1–2 business days with a clear next step.
Use of this website does not create a CPA-client relationship.
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.