Small Business CPA in Livingston, NJ | Monaco CPA
Full-Service Accounting for New Jersey Small Businesses
Monaco CPA is a full-service accounting firm located in Livingston, New Jersey, serving small businesses, professional practices, and entrepreneurs throughout Essex County and nationwide. Founded by Gregory Monaco, CPA, MBA, we provide tax planning, bookkeeping, payroll, and fractional CFO services tailored to your industry.
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Office Location: Livingston, NJ (Essex County)
Service Area: New Jersey, New York, nationwide (virtual)
Who We Serve
Monaco CPA specializes in accounting and tax services for:
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Medical and Dental Practices: Physician groups, dentists, specialists
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Law Firms: Solo practitioners to mid-size firms
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Tech Startups and SaaS Companies: Seed to Series A
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Construction Contractors: GCs, subcontractors, trades
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E-Commerce Businesses: Amazon sellers, Shopify stores, DTC brands
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Cryptocurrency Investors and Traders: Our nationally recognized specialty
Industries We Specialize In
Medical & Dental Practices
Key Challenge: Equipment depreciation, partner tax planning
Our Solution: Section 179 optimization, practice benchmarking
Law Firms
Key Challenge: IOLTA trust accounting, partner compensation
Our Solution: State bar-compliant trust accounting, billable analysis
Tech Startups
Key Challenge: R&D credits, revenue recognition, investor reporting
Our Solution: ASC 606 compliance, equity compensation advisory
Construction Contractors
Key Challenge: Job costing, retainage, certified payroll
Our Solution: Progress billing setup, bonding support
E-Commerce
Key Challenge: Multi-state sales tax, inventory accounting
Our Solution: Nexus analysis, cost of goods sold optimization
What Is a Fractional CFO?
A fractional CFO provides part-time Chief Financial Officer services to businesses that need strategic financial leadership but aren't ready for a full-time executive hire.
Monaco CPA's fractional CFO services include:
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Cash flow forecasting and management
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Financial statement analysis and reporting
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Banking relationships and loan preparation
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Budgeting and profitability analysis
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Strategic financial planning
This service is ideal for businesses with $500K–$5M in revenue seeking executive-level guidance without executive-level cost.
What Is NJ BAIT (Business Alternative Income Tax)?
The New Jersey Business Alternative Income Tax (BAIT) is a workaround for the federal $10,000 SALT (State and Local Tax) deduction cap.
How it works: Pass-through entities (S-Corps, partnerships, LLCs) elect to pay New Jersey income tax at the entity level. The business gets a federal deduction for state taxes paid, bypassing the individual SALT cap.
Potential savings: Business owners with significant NJ income can save thousands in federal taxes annually.
Monaco CPA handles: BAIT election calculations, quarterly estimated payments, and annual filing to maximize your federal deduction.
Our Services
Tax Planning and Preparation
Strategic tax planning and compliant return preparation for individuals, S-Corps, partnerships, and C-Corps. We identify deductions, credits, and elections that reduce your tax burden.
Bookkeeping and Accounting
Monthly bookkeeping, bank reconciliations, and financial statement preparation using QuickBooks Online. Real-time access to your numbers.
Payroll Services
Full-service payroll including tax deposits, quarterly filings, year-end W-2s, and compliance. Avoid trust fund recovery penalties with professional management.
QuickBooks Setup and Training
As QuickBooks Online ProAdvisors, we handle setup, cleanup, and training to ensure your books are accurate and reporting is reliable.
Accounts Payable Management
Bill payment processing, vendor management, and cash flow optimization. Capture early payment discounts and avoid late fees.
Local Expertise, National Reach
Based in Livingston, we serve clients throughout Essex County including:
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West Orange
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Millburn and Short Hills
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Montclair
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South Orange
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Maplewood
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Summit
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Morristown
We also serve clients nationwide through our secure, cloud-based systems.
Why Choose Monaco CPA?
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Direct Access: Work directly with Gregory Monaco, CPA—not passed between staff
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Industry Specialization: We understand your business, not just tax forms
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Technology-Forward: Cloud-based systems, real-time reporting, secure document exchange
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AICPA Member: Committed to highest professional standards
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Proactive Approach: We identify opportunities, not just process paperwork
Frequently Asked Questions
Do you only handle cryptocurrency taxes?
No. While we're nationally recognized for crypto expertise, a significant portion of our practice serves traditional small businesses with tax planning, bookkeeping, and advisory services.
What accounting software do you support?
We are QuickBooks Online ProAdvisors and Xero certified. We specialize in cloud-based accounting for real-time access to your financial data.
Can you help with the NJ BAIT / SALT cap workaround?
Yes. This is a critical tax-saving strategy for NJ business owners. We handle the election, calculations, and filing to ensure you receive the federal deduction.
Do you offer virtual services?
Absolutely. We serve clients nationwide through secure cloud platforms. In-person meetings are available at our Livingston office.
Schedule Your Free Consultation
Let's discuss your business needs. Initial consultations are complimentary with no obligation.
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Phone: (862) 320-9554
Email: Greg@MonacoCPA.CPA
Location: Livingston, NJ
© 2025 Gregory Monaco, CPA LLC. All Rights Reserved.