CPA Serving Morristown & Morris County, NJ
Morristown is the county seat of Morris County and one of northern New Jersey's most prominent professional and business communities. From the town's historic downtown to its surrounding suburbs, Monaco CPA provides tax preparation and accounting for Morristown-area individuals, business owners, and professionals.
CPA Services in Morristown
Morristown is the county seat of Morris County and one of northern New Jersey's most prominent professional and business communities. From the town's historic downtown to its surrounding suburbs, Monaco CPA provides tax preparation and accounting for Morristown-area individuals, business owners, and professionals.
Morris County's high-income population faces complex tax situations: multi-state returns, investment income, S-Corp compensation planning, and estate tax planning are all common needs in the Morristown area. Greg Monaco, CPA handles every engagement personally.
As a virtual CPA practice, Monaco CPA serves Morristown clients with the same quality and personal attention as an in-office firm, without the overhead, without the handoffs.
Why Morristown Clients Choose Monaco CPA
Morristown's professional community includes attorneys, physicians, financial advisors, and corporate executives. Monaco CPA provides specialized accounting for law firms and medical practices in the area, many of which have equity compensation, deferred income, and significant investment portfolios that require sophisticated tax planning.
The Morris County real estate market features high property values and correspondingly high property taxes, a concern for both homeowners navigating the SALT cap ($40,000 since 2025 under OBBBA, increased from $10,000) and real estate investors managing rental properties with NJ-specific depreciation rules.
Morristown's growing startup and technology community, including companies based in the Morris County Innovation Center and surrounding coworking spaces, creates demand for entity formation, R&D credit analysis, and early-stage tax planning.
New Jersey has collected $84 million in wage-theft and misclassification assessments since 2018, with $37 million assessed in just the first seven months of 2025. Morristown-area businesses that use contractors or consultants need to ensure proper worker classification. Monaco CPA provides payroll services and compliance reviews.
Work Directly with Greg
Your CPA knows your name and your situation.
NJ Licensed CPA
Livingston-based virtual CPA licensed in New Jersey, serving clients statewide.
Virtual Convenience
Secure portal, video consultations, and e-filing from anywhere.
Responsive Communication
All inquiries answered within one business day.
Areas I Serve
Monaco CPA provides services throughout Morristown and Morris County, NJ, including:
Services Available in Morristown
Accurate, stress-free tax returns for W-2 earners, freelancers, and self-employed individuals.
Year-round strategies to help reduce your tax liability legally.
Returns and compliance for S-Corps, LLCs, partnerships, and sole proprietorships.
Monthly bookkeeping, QuickBooks Online setup, and financial reporting.
QuickBooks Online setup, cleanup, training, and ongoing support from a Gold Certified ProAdvisor.
Payroll processing, tax filings, and compliance for NJ businesses.
What Clients Say
"Great service and really efficient. The virtual process was straightforward and saved me a ton of time."
Eric R.
"Greg was very professional in helping me with my taxes. He broke it down and explained all the details. He was very easy to communicate with. I am all set for this year and I will be returning next year for the same service. His tax planning and strategies helped me save money."
Brandon B.
"Greg took the time to listen to my concerns and answer my tax related questions and put my mind at ease. I would definitely recommend to others."
Mike D.
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.
Frequently Asked Questions
Does Monaco CPA serve Morris County businesses?
Yes. Monaco CPA serves businesses throughout Morris County including Morristown, Parsippany, and surrounding areas. All services are delivered virtually through an encrypted portal.
What should Morris County business owners know about NJ taxes?
Morris County businesses face the same NJ tax obligations as all Garden State businesses, but the area's mix of professional services, tech companies, and pharmaceutical firms creates specific planning opportunities. The BAIT election, S-Corp optimization, and R&D credits are particularly relevant for Morris County businesses.
What is the NJ BAIT election and should my business use it?
The Business Alternative Income Tax (BAIT) lets NJ pass-through entities like S-Corps and partnerships pay state income tax at the entity level, creating a federal deduction that bypasses the individual SALT cap ($40,000 since 2025 under OBBBA, increased from $10,000). For most qualifying NJ businesses with income over $100,000, the election produces meaningful federal tax savings. The election must be made annually by March 15.
Does New Jersey tax capital gains differently than the federal government?
Yes. New Jersey taxes all capital gains at ordinary income rates ranging from 1.4% to 10.75%. There is no preferential long-term capital gains rate in New Jersey, unlike the federal system. This is one of the biggest NJ-specific tax surprises for investors.
Tax Tips & Insights from Greg Monaco, CPA
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Ready to Work with a Morristown CPA?
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IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, I inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.
Monaco CPA is licensed by the New Jersey State Board of Accountancy (Firm License #20CB00789800). Services are provided remotely to clients nationwide. Monaco CPA does not maintain physical offices outside New Jersey and does not hold CPA firm permits in other states.