CPA Serving Newark, NJ & Essex County
Newark is New Jersey's largest city and a hub for entrepreneurship, small business, and professional services. Monaco CPA provides tax preparation and accounting for Newark-area residents, sole proprietors, LLCs, and small businesses.
CPA Services in Newark
Newark is New Jersey's largest city and a hub for entrepreneurship, small business, and professional services. Monaco CPA provides tax preparation and accounting for Newark-area residents, sole proprietors, LLCs, and small businesses.
As a virtual CPA practice, Monaco CPA serves Newark clients throughout Essex County, from individual W-2 filers to small business owners managing payroll, bookkeeping, and annual tax returns.
Whether you are a Newark entrepreneur filing your first business return, a freelancer managing self-employment taxes, or a professional navigating NJ/NY commuter tax rules, Monaco CPA provides the focused knowledge and CPA credentials your situation requires.
Why Newark Clients Choose Monaco CPA
Newark's economy includes a growing tech and startup community, logistics and transportation businesses, healthcare providers, and a large population of self-employed professionals and gig workers who face complex self-employment tax obligations. Monaco CPA works with construction companies, manufacturers, and restaurants throughout the Newark area.
Many Newark residents work in New York City and face NJ/NY dual taxation, paying NJ Gross Income Tax as a resident while also subject to NYC tax as an employee. The NJ/NY commuter credit helps offset this, but proper filing is essential to avoid double taxation.
Newark's Opportunity Zone designations make it particularly relevant for real estate investors and startup founders who have realized capital gains, a Qualified Opportunity Fund investment in a Newark OZ could defer and reduce those gains.
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. Newark businesses with contractors or gig workers face heightened scrutiny. Monaco CPA provides payroll services and worker classification compliance support.
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 Newark and Essex County, NJ, including:
Services Available in Newark
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 work with Newark businesses?
Yes. Monaco CPA serves businesses throughout Essex County and the greater Newark area. As a virtual practice, all consultations and document exchange happen securely online. No need to travel to an office.
What tax incentives are available for Newark businesses?
Newark businesses may qualify for Urban Enterprise Zone (UEZ) benefits including reduced sales tax collection (half the standard rate) and various state incentives. Your business structure also matters; an S-Corp election can save thousands in self-employment tax annually.
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 Newark CPA?
Start your tax return through the secure portal or send a message to discuss your needs.
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.