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Bookkeeping
Aug 7, 20264 min read
Your Books Are a Business Tool, Not a Year-End Chore
A practical overview of keeping records usable for day-to-day business decisions rather than treating the ledger as an afterthought.
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Practical guidance on tax preparation, business accounting, and financial planning from a NJ CPA.
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Bookkeeping4 min read
Catch-Up Bookkeeping vs. Cleanup Bookkeeping: What's the Difference?
A practical distinction between recording missing activity and reviewing activity that was already recorded.
Aug 7, 2026Read more
Tax Tips25 min read
The $2,000 Rule: Why No 1099 Does Not Mean No Reporting or Tax in 2026
OBBBA Section 70433 raised the 1099-NEC reporting threshold from $600 to $2,000 for payments made in calendar year 2026, with that amount indexed for later calendar years. That changes a payer's federal form-filing duty, not whether receipts belong in gross income. Return-filing rules, the Schedule SE threshold, deductions, and the complete return determine whether tax is due.
Apr 4, 2026Read more
Crypto Tax23 min read
Are Crypto Gas Fees Tax Deductible? What the IRS Says in 2026
Crypto gas treatment depends on the transaction: acquisition, disposition, swap, transfer, service, or failed/reverted call. A failure does not automatically create zero proceeds, short-term capital loss, or an ordinary business deduction.
Apr 4, 2026Read more
Tax Tips18 min read
Venmo, Cash App, and Zelle Taxes in 2026: What's Actually Taxable and What's Not
The ARPA $600 TPSO threshold was superseded before taking effect as announced, and OBBBA Section 70432 restored the original threshold of more than $20,000 and more than 200 transactions. Personal transfers are not payments for goods or services; Zelle's published model describes bank-to-bank messaging, while the actual payer, intermediary, form, and gross-to-net records still control reporting.
Apr 4, 2026Read more
Bookkeeping10 min read
Bookkeeping Cleanup Cost: Scope and Pricing Factors for Small Businesses
Bookkeeping-cleanup pricing depends on the periods, accounts, transaction volume, source records, platform, and accepted work. Monaco CPA's displayed starting point is $750 as of August 2026; any scope, price, records, and timing exist only in accepted writing.
Apr 1, 2026Read more
Tax Tips & Strategy26 min read
Gambling Tax for Married Couples: Complete-Return Filing-Status Comparison (2025-2026)
A fact-specific comparison of joint and separate returns for married gamblers, including spouse-level winnings and losses, itemized deductions, NIIT, IRMAA, benefit eligibility, and New Jersey reporting.
Mar 23, 2026Read more
Tax Guides21 min read
Fantasy Sports Taxes: DFS, Season-Long Leagues, and Noncash Prizes (2025-2026)
DFS winnings, season-long fantasy prizes, and office pool trophies can all be taxable. Information reporting depends on the actual payer, payment character and flow, recipient, amount, exceptions, and form furnished; activity classification remains fact-specific.
Mar 23, 2026Read more
Tax Guides33 min read
NJ Sportsbook and Casino Tax Forms: A Platform Guide to the Major Operators (2025-2026)
DraftKings, FanDuel, BetMGM, Caesars, theScore Bet, and 15 more - how each NJ platform reports your winnings, where to find your tax documents, and what the OBBBA changed for 2026. NJ CPA Greg Monaco breaks down the forms, thresholds, and platform quirks that trip up NJ bettors every tax season.
Mar 23, 2026Read more
Tax Guides31 min read
Trading Card Taxes: A 2025-2026 Guide for Sports Cards, Pokemon, and TCG Collectors
The prevailing practitioner position generally treats sports cards, Pokemon, Magic: The Gathering, and other trading cards as collectibles for the federal 28% maximum-rate framework. IRC §408(m) does not expressly name trading cards, and no IRS or court ruling squarely classifies them, so this is not a categorical conclusion. This guide covers the position and its limits, activity classification, information-return reconciliation, grading, box breaks, and NJ rules.
Mar 23, 2026Read more
Tax Guides23 min read
NJ Casino Winnings: A 2025-2026 Reporting and Records Guide
Hit a jackpot at an Atlantic City casino? NJ CPA Greg Monaco walks through the 2026 OBBBA changes, NJ's same-year category netting on the NJ-1040, and casino-winner reporting issues.
Mar 23, 2026Read more
Tax Guides21 min read
Gambling Session Reporting: Authority Limits, Records, and the 2026 Loss Cap
Session-based measurement is a position whose support depends on the activity, asserted transaction unit, records, and authority. This guide distinguishes nonprecedential advice, persuasive cases, and an unfinalized slot proposal; it does not present a universal casino, poker, online, or sportsbook safe harbor.
Mar 23, 2026Read more
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