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Tax Tips & Financial Insights
Practical guidance on tax preparation, business accounting, and financial planning from a NJ CPA.
LLC vs. S-Corp in New Jersey: Which Entity Structure Is Right for Your Business?
Choosing the right business entity can save NJ business owners thousands in taxes annually. Here’s a practical comparison.
Jan 28, 2026S-Corp Salary vs. Distributions: Getting the Balance Right in 2026
Setting your S-Corp salary too low invites IRS scrutiny. Too high and you lose the tax benefit. Here’s how to find the right balance.
Jan 20, 2026S-Corp Health Insurance: How to Report It Correctly on Your W-2 in NJ
If you’re a 2%+ S-Corp shareholder paying for health insurance, there’s a specific way it must appear on your W-2.
Jan 12, 2026The NJ S-Corp Election Trap: Don’t Assume Your Federal Election Covers the State
Many NJ business owners file their federal S-Corp election and assume they’re done. New Jersey has its own requirements.
Dec 18, 2025What Is a Reasonable Compensation Study and Does Your NJ S-Corp Need One?
A reasonable compensation study protects you from IRS reclassification. Here’s what’s involved.
Dec 10, 2025Owner Draws vs. Distributions vs. Payroll: How to Pay Yourself in NJ
The way you pay yourself depends on your business structure. Here’s a breakdown for NJ business owners.
Dec 1, 2025Year-End Tax Moves Every NJ Business Owner Should Make Before December 31
The best tax planning happens before December 31 — not in April. Here are the strategies I walk through with every NJ client.
Jan 25, 2026Quarterly Estimated Taxes in NJ: Due Dates, Calculations, and Avoiding Penalties
If you’re self-employed or run a business in NJ, you’re responsible for quarterly estimated taxes.
Jan 15, 2026The NJ BAIT Election: How Pass-Through Businesses Can Bypass the SALT Cap
New Jersey’s Business Alternative Income Tax lets pass-through entities deduct state taxes at the entity level.
Jan 8, 2026How Capital Gains Are Taxed in New Jersey
NJ taxes capital gains as ordinary income — there’s no preferential rate.
Dec 28, 2025The NJ Exit Tax: What You Need to Know Before Moving Out of State
The exit tax is widely misunderstood. It’s not a penalty for leaving — but you do need to plan for it.
Dec 20, 2025New Jersey Inheritance Tax: Who Pays, How Much, and How to Plan
NJ is one of the few states with an inheritance tax. The amount depends on who inherits — not the estate size.
Dec 15, 2025NJ/NY Commuter Tax Guide: How Cross-Border Taxes Work in 2026
If you live in NJ and work in NY, you’re dealing with two states’ tax rules. Here’s how it works.
Dec 8, 2025Section 179 and Bonus Depreciation for NJ Businesses: The 2026 Guide
NJ has its own rules for Section 179 and bonus depreciation. Don’t assume the federal deduction flows through automatically.
Nov 30, 2025Health Insurance Deductions for NJ Self-Employed and Small Business Owners
Self-employed NJ residents can deduct health insurance premiums — the rules depend on your structure.
Nov 22, 2025Retirement Plan Options for NJ Small Business Owners
A retirement plan can be your biggest tax deduction. Here are the best options for NJ business owners.
Nov 15, 2025IRS Audit Red Flags Every NJ Small Business Owner Should Avoid
Certain items on your return are more likely to trigger scrutiny. Know what they are.
Nov 8, 2025NJ Tax Changes for 2025–2026 That Affect Small Businesses and Individuals
New tax rules and compliance changes for NJ taxpayers. Here’s what’s new.
Nov 1, 2025Top 5 Overlooked Tax Deductions for NJ Small Business Owners
These commonly missed deductions can save hundreds to thousands each year.
Oct 18, 2025Why Good Bookkeeping Is the Foundation of Every Successful NJ Business
Clean books aren’t just about compliance — they’re about making better decisions.
Oct 10, 20257 Bookkeeping Mistakes NJ Small Business Owners Make
These common errors cost NJ business owners time, money, and peace of mind.
Oct 2, 2025Catch-Up Bookkeeping: How to Get Your NJ Business Books Back on Track
Months or years behind on your books? Here’s how the catch-up process works.
Sep 25, 2025The Month-End Close Checklist for NJ Small Businesses
A monthly close process keeps your books accurate and financials ready.
Sep 18, 2025Chart of Accounts 101 for NJ Service Businesses
Your chart of accounts is the backbone of your bookkeeping. Here’s how to set it up right.
Sep 10, 2025QuickBooks Online Setup: A Step-by-Step Guide for NJ Businesses
Setting up QBO correctly from the start saves hours of cleanup later.
Sep 1, 2025Managing Accounts Receivable: How NJ Businesses Can Get Paid Faster
Slow-paying clients hurt your cash flow. Here are practical AR strategies.
Aug 25, 2025Accounts Payable Management: Staying on Top of Vendor Payments
Missed payments damage relationships and incur penalties. Here’s how to manage AP.
Aug 18, 2025Does Your NJ Business Need a Fractional CFO?
Executive-level financial strategy without the cost of a full-time hire.
Aug 10, 2025Cash Flow Forecasting for NJ Small Businesses
Profit doesn’t equal cash in the bank. Here’s how to forecast and manage cash flow.
Aug 1, 2025Understanding Your Financial Statements: A Plain-English Guide
P&L, balance sheet, cash flow statement — what they are and why they matter.
Jul 25, 2025How to Properly Separate Business and Personal Finances in NJ
Mixing accounts is a recipe for headaches. Here’s the right way to set up separation.
Jul 5, 2025Starting a Business in NJ: The Complete Checklist
From entity formation to tax registration — everything you need to do to start a business in New Jersey.
Jun 28, 20251099 Forms in NJ: When to Issue, How to File, and Common Mistakes
If your NJ business pays contractors $600+, you likely need to issue 1099 forms.
Jun 20, 2025NJ Sales Tax for Service Providers: Are Your Services Taxable?
Most services in NJ are exempt — but there are important exceptions.
Jun 12, 2025NJ Payroll Basics: What Every Employer Needs to Know
NJ has unique payroll requirements beyond federal rules.
Jun 5, 2025What to Do If Your NJ Small Business Gets Audited
A tax audit doesn’t have to be a nightmare. Here’s what to expect.
May 28, 2025Received an IRS Notice? Here’s What NJ Taxpayers Should Do
Most IRS notices are routine. Here’s how to respond correctly.
May 20, 2025Cash vs. Accrual Accounting: Which Method for Your NJ Business?
Your accounting method affects when income and expenses are recognized for tax purposes.
May 12, 2025How Long to Keep Tax and Business Records in NJ
Don’t throw away records too soon — or drown in paper you no longer need.
May 5, 2025Why Work with a Local CPA in Livingston, NJ?
There are real advantages to having a CPA who knows Livingston and Essex County.
Apr 28, 2025CPA Services for Therapists and Mental Health Professionals in North Jersey
Private practice therapists have unique tax and bookkeeping needs. Here’s how a CPA can help.
Apr 20, 2025NJ E-Commerce Bookkeeping and Tax Tips
Selling online from NJ? Here are the bookkeeping and tax considerations you need to know.
Apr 12, 2025Finding the Right Small Business Accountant in Essex County, NJ
What to look for when choosing an accountant for your Essex County business.
Apr 5, 2025Tax Tips & Insights from Greg Monaco, CPA
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