"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.
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 does NOT allow a current-year deduction for any self-employed retirement plan contributions - SEP-IRA, SIMPLE IRA, Solo 401(k) employee deferrals, OR Solo 401(k) employer contributions. NJ Division of Taxation treats these as creating NJ basis in the retirement account, recoverable tax-free in retirement under the 3-Year Rule (full recovery in first 36 months of distributions) or General Rule (proportional). N.J.S.A. 54A:6-26 disallows the traditional IRA deduction, and NJ has no equivalent above-the-line for the other plans. The federal deduction is real and immediate; the NJ benefit is deferred. Choose plans based on contribution limits, employee coverage, and other planning factors - NOT on a non-existent NJ deduction advantage of one plan type over another.
**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 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 $8,500 for 50+.
"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 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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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.