Eilenberg Tax and Accounting

Total-Tax-Care. Your Advisory & Tax Return Services.
Let's Grow a Healthy Financial Journey.

Whenever needed:
- Full access to a CPA
- Tax advise
- Updates with tax tactics that come up as we live life & can be used to our benefit, & will translate to tax savings
- All tax filings: 1040, 1041, 1120, 1120S, 990, sales & payroll

team@eilenbergcpa.com

Founder

B&H Photo Video

B&H Photo is the largest retailer in the USA for photo, video, and pro-audio gear.

In this role, I:
Loss prevention on large duplicate payment, saving annually from 1M to several Million
For many reconciliations, that I operate I reduced the time it takes to complete in half or more, & continue to implement & improve time saving efficiencies using SQL, Macros/VBA, & advanced Excel at B&H Photo
Train in new team-members on similar daily tasks, Vlookups, Pivots, Macros/VBA, & SQL

Workload Metrics: started mid 2019 with several GL accounts, reconciliations, & analysis, took on since then over %50 more though mid 2022, then took on an additional %40 when a co-worker left the company & we took on new software.

For all tasks, the altitude is, discover the cause of the issue, & perusing what can be done to avoid it in the first place. From front end staff training, to the database, IT, or other mid-way issue that needs fixing.

Other tasks include:
unclaimed/abandoned property (Escheats)
month-end close account reviews
year-end audit assistance
inter-department accounting support
price protection/inventorial adjustments & reversals

I work closely with following departments: Treasury, AP;Invoice, AP;Expense, AR, Sales Tax, FP&A.

Most used tools:
Advanced Excel
Unix/Gillani [(IBM) Informix database for accounting]
SQL via AquaData
Blackline (journal entries)
Cognos
Coupa

Using as well:
Salesforce

General Ledger Accountant

Self Employed

Creating their Budget
Experience using Online QuickBooks for AR & collections, AP & disbursements, Reconciliations (bank & CC), creating management reports & financial statements

Real Estate Industry, accounted for property maintenance

Bookkeeper

Spring Gardens Recovery

I manage the accounting department for a Detoxification and Residential center. (in addition to my prior roles as Accounts Receivables Specialist)

- promoted 2 times to date [salary], 90-day & year end,
- $5,000.00 average monthly revenue increase by optimizing the AR structure,
- $1,000.00 average monthly expense savings by optimizing AP structure,
- $800.00 average monthly payroll savings by optimizing the payroll structure,
- training employees [5 to date] on accounting roles,
- supervising employees [5 to date] on accounting roles,
- managing day to day finances. Supervising, automating, & reporting,
- updating accounting records for financial & tax reporting,
- controlling costs when possible,
- auditing operational, compliance, & internal finances & operations,
- reconciling monthly bank & credit card statements with our books,
- assisted external accountant with year-end close for taxes,
- treasury roles,
- demonstrated the above as the company concurrently tripled in overall operation.

This involves on a perpetual basis optimizing, maximizing, & managing on a perpetual basis:

- accounting structure,
- optimizing internal control & contributing to operating discipline,
- maximizing revenue increase & budget decrease,
- streamlining seamless workflow compliance needs,
- managing large fund allocation in all departments (listed below),
- optimizing compliance. Research & implementation,
- research and apply tax regulations,
- internal control improvement,
- auditing operational, compliance, & internal finances & operations,
- journal entries (GE),
- accounts payable,
- bill review,
- invoicing medical claims, follow up, & collections,
- complete weekly payroll (30-50 employees) via Fingercheck.com,
- time-card review & adjustments,
- payroll tax allocation, PTO, sick, & holiday,
- medical insurance deductions, reimbursements, & bonuses,
- creating macros VBA,
- bank reconciliation,
- monthly financial reporting (P&L),
- credit card reconciliation.

Full Manager Bookkeeper

Accounting for all AR records & collections:

- accounts receivable,
- invoicing medical claims (inbound from insurance),
- solved disputes or misunderstanding with vendors & patients,
- record payments,
- fund allocation,
- reconcile receivables with our bank statements,
- advanced Quickbooks (QB),
- advanced Excel,
- medical remittance portals,
- Kipu,
- continuous business process improvement,
- credit card payments and posting,
- credit card reconciliation and batch tracking,
- automating data entry,
- diversified software usage,
- labor & employment law,
- EOB,
- aging reports,
- quarterly reporting,
- aging follow up,
- approvals and authorization.

Accounts Receivable Specialist

Sofer Sta"m

Delivering high-quality products & services to our clients.

Performed:

- accounts payable & accounts receivable (AP & AR),
- contract negotiation & execution,
- managing, A-Z, many projects performed by freelanced individuals,
- employee training,
- operational management,
- complete inventory management,
- order processing,
- purchase orders,
- invoicing,
- QuickBooks QB,
- proficiency in advanced Microsoft Excel,
- inside and outside sales,
- price negotiation,
- customer service (person, phone, & email),
- collections,
- treasury,
- marketing,
- communication.

Personal:
- desire to make a real difference in a growing company,
- excellent organization skills & strong attention to detail & process,
- attention to detail,
- interpersonal skills,
- critical thinking,
- ability to think proactively and work in a highly collaborative and high paced environment,
- ability to work with all levels of management and associates,
- can embody and demonstrate company values and culture,
- communication (oral & written),
- detail and deadline driven with good analytical, organization, communication and computer skills,
- maintain calendar ensuring key dates are met (e.g. tax deadlines),
- knowledge & some experience with interpreting data, accounting & cost accounting standards.

Small Business Owner

"YOU Deserve a CPA Specialist on Board With You.”

You're overpaying on taxes. I slash the tax bill in half on the first try. Invest the savings in forever-after tax free accounts.

https://calendly.com/cpa-intro/15-to-30-minutes
Let's get on a call or DM to see if I can help you save on your taxes

eilenbergcpa.com

Business Returns | Non-Profit & Trust Return | Personal Returns

Total-Tax-Saving-Specialist. Advisory & Tax Return Services.

Whenever needed:
•Full access to a CPA
•Tax advise
•Updates with tax tactics that come up as we live life & can be used to our benefit, & will translate to tax savings
•All tax filings: 1040, 1041, 1120, 1120S, 990, sales & payroll

Get my free tax prep guide here - eilenbergcpa.com

Your double lives trigger IRS alarms..




You’re grinding.
→ Late nights. Early mornings.
→ Chasing freedom. Building legacy.
→ But the IRS reads your story.
→ And mixed stories don’t survive audits.

Here’s the problem ↓
→ Your tax return says full-time Active Trader.
→ Home office
→ Data
→ Trading write-offs

But…
→ You also have a big W-2.
→ A 9–5.
→ Clocked in elsewhere.

That doesn’t add up.

Here’s the truth ↓
→ Active Trader status is all or nothing.
→ It must be your primary occupation.
→ The IRS doesn’t buy double lives.

Here’s the smart shift ↓
→ Pick a lane.
→ Live it fully.
→ Build inside it cleanly.

Here’s what I see in real life ↓
→ Every audit problem starts with a broken story.
→ Not bad trades.
→ Not losses.
→ Contradictions.

Here’s how to do it right ↓
→ If you’re the trader, trading is your main job
→ Your records must show time, volume, consistency
→ If you have a W-2, own the investor lane and optimize it
→ Married? Your spouse can have the W-2 — your trader status can still stand
→ Clean story.
→ Clean return.
→ Clean defense.

Wealth isn’t built by pretending harder.
→ It’s built by aligning reality with strategy.
→ Clarity protects deductions.
→ Consistency protects freedom.
→ This is how you win the tax game.

Here’s what surprises most people ↓
→ Even when someone fixes the story… even when the IRS believes the lane they picked… they still leave real money on the table.
→ Not because they traded wrong.
→ Because they stopped halfway.

In the next post, I’ll show you the most common
→ “Almost right” trader setup I see — and why one missed election quietly limits your wealth.

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Yitzchak Eilenberg, CPA

Performance Satisfactory Annual Promotion

Workshop type class setting. Developing strong effective communication skills,
emotional problem solving.

How to talk so kids will listen & listen so kids will talk

Maximizing My Skills

AP, AR, Payroll, Bank Reconciliation, GAAP Principles, QB, Excel, & Economics.

Junior Accounting Diploma

Certificate for both writing and checking

Vaad Mishmeres STA"M

Excelsior University

Bachelor of Science in Business & Accounting

AICPA

Certified Public Accountant

How to listen so kids will talk and talk so kids will listen

Scripts and Arts (STA"M) Laws and Workshop

Central Yeshiva Tomchei Temimim Lubavitch

English

Hebrew

Yiddish

Special Ed Camp Counselor (2 Summers)

Chevras Hasofrim

Helping Your Business Pay Less Taxes | Maximize Creative Expenses | Invest Tax-Free Forever

Account Payable

Account Receivable

Bank & CC Reconciliation

Internal Control

Payroll

Writing & Inspecting Scripts

Your hidden power of an S-Corp for Traders.




You trade hard.
→ You study charts.
→ You take the risk.
→ But your tax return still screams “side hustle.”
→ And that’s a problem.
→ Because when the IRS sees expenses on Schedule C, gains on Schedule D, and no income on Schedule C — it raises eyebrows.

Here’s the fix
→ Run your trading through an S-Corp.
→ Now your activity looks and operates like a real business.
→ Clean financials.
→ Lower audit risk.
→ Access to a Solo 401(k) — so you can shelter serious cash.
→ Home office deductions that don’t trigger red flags.

I’ve helped traders go from “random investor” to “credible business owner” — just by changing their structure.

Here’s the truth:
→ An S-Corp won’t make you qualify as a trader.
→ But once you’re in, it amplifies your credibility, protection, and wealth-building strategy.

Because real wealth builders know
→ It’s not just about making money.
→ It’s about presenting it the smartest way possible.

An S-Corp makes you legitimate.

But it doesn’t make you wealthy by itself.

The real wealth move comes after the S-Corp —
when you plug it into the right system.

That’s the piece most traders miss.
And it’s exactly what I’m covering next.

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Type 1 active trader if you didn’t make the election.




You’ve been grinding — late nights, early mornings — chasing financial freedom and generational wealth.
→ But the IRS doesn’t reward “almost.”

This is the “basic” trader setup.
→ You qualify as an Active Trader but don’t make the Mark-to-Market election.

Here’s how it plays out:
→ You report gains and losses on Schedule D.
→ You deduct business expenses on Schedule C—subscriptions, education, software—but you can’t claim home office or Section 179.
→ Those expenses show as a net loss on Schedule C, with no offsetting income.
→ Your losses?
→ Still capped at $3,000 against ordinary income, with carryforwards on the rest.

Pros?
→ You can at least deduct trading expenses.

Cons?
→ Limited loss treatment
→ Messy return structure
→ And higher audit risk.

The IRS doesn’t love seeing a Schedule C with only expenses and no income.

Here’s the version I see most often when traders come to me after the fact.
→ They qualify.
→ They’re active.
→ They’re doing the work.
→ But one missed election quietly limits everything.

For wealth builders, this version feels incomplete.
→ It’s better than nothing, but not the full gear.
→ It’s like running a marathon in flip-flops—you’re technically in the race, but you’re not set up to win.

If you’re serious about wealth building, you can’t settle for “almost.”
→ You need the right structure, the right election, and a clear tax game plan.
→ Because true wealth isn’t built by chance — it’s built by strategy.

Here’s the quiet truth ↓
→ Most traders don’t lose money because of bad trades.
→ They lose it because they’re in the wrong tax lane.

And there is another lane.
→ One election.
→ One deadline.
→ One move that changes how losses behave entirely.

Next post →
→ The version that turns losses into leverage — and why making it without a plan can be just as dangerous as missing it.

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Your Solo 401k is the secret weapon most traders miss.




You work hard. You trade harder.
→ But what if your biggest win isn’t in the market… it’s in your structure?

Here’s the truth:
If you’re trading full time, the Solo 401(k) can be your tax superpower — but only if you’re structured right.

As an Active Trader with an S-Corp, you wear two hats:
→ Employer and Employee.
→ That means you can contribute twice — sheltering tens of thousands from taxes each year.

I’ve seen traders lock in tax-free growth — money compounding quietly while they’re still grinding.

And that’s the magic
→ Active trading is risky. The market moves fast.
→ But the Solo 401(k)? It builds stability.
→ It’s the silent wealth builder working in the background while you chase your next win.

Most investors can’t touch it.
→ Dabblers don’t qualify.
→ Only real business traders — structured right — get this level of power.

This is how generational wealth is built.
→ Not just through gains — but through structure.

This Solo 401(k) power only works if the IRS agrees you’re an Active Trader.

And if most of your activity is in crypto… there’s a rule that could shut this down fast.

Next post: the truth most crypto traders don’t want to hear.

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The Wash Sale Rule you hated just vanished. (Sort of.)




You sell a stock at a loss.
Then buy it back 10 days later.
→ The IRS says “Nope. That loss doesn’t count as a loss in your favor.”
→ Frustrating, right?

Now here’s where it gets powerful
→ If you’re an active trader with a Mark-to-Market election, you skip the wash sale trap completely.
→ Losses are clean.
→ Rebuys are fine.
→ No 30-day penalty.
→ No mental gymnastics.

Sounds like magic — but there’s a twist.
→ Every December 31, your entire portfolio is “sold” on paper.
→ Gains and losses trigger automatically, whether you sold or not.
→ Unrealized gains? Taxed.
→ Unrealized losses? Deducted.

I’ve seen traders love this rule in one year… and regret it the next.

Because when you elect Mark-to-Market, you trade simplicity for strategy.
→ It’s freedom from wash sales — but exposure to year-end taxes.

Wealth builders don’t get blindsided by IRS fine print.
→ They plan.
→ They time.
→ They structure.

That’s how you turn “technicalities” into tax wins — not surprises.

But here’s what most traders miss…

Escaping wash sales is only step one.
The bigger wealth move isn’t just how losses are treated —
it’s how your entire trading activity shows up to the IRS.

And that’s where most traders accidentally cap their upside.

In the next post, I’ll show you how the right structure turns trading from a tax headache into a wealth-building machine —
lower audit risk, better optics, and access to tools most traders never unlock.

This is where the real leverage starts.

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Type 2 Active Trader: With Election




Turn your trading losses into gold.

Most traders lose more to the IRS than the market.
→ But there’s a hidden rule that flips the game upside down.

It’s called the Mark-to-Market Election.
→ And once you learn it — you’ll never see losses the same way again.

Here’s the problem:
→ Regular investors are trapped.
→ You lose big? The IRS caps you at $3,000 a year.
→ The rest gets carried forward… sometimes forever.

Meanwhile, you still pay full tax on every win.

Now here’s the power move
→ With the Mark-to-Market election, you switch lanes.
→ Losses become ordinary losses.
→ They can offset W-2 wages, business income, rental income — anything.
→ You’re also free from wash sale rules.
→ Sell and rebuy the same stock? No problem.
→ Every December 31, your portfolio resets — sold and rebought — giving you a clean slate for the new year.

I’ve seen active traders save tens of thousands just by knowing this one strategy.
→ But here’s the catch → that same December 31 “sale” can wipe out all your carryforward losses in one swoop.
→ And once you elect Mark-to-Market?
→ It’s permanent.
→ You can’t just undo it next year.

So don’t make the election because you’re chasing losses.
→ Make it because you’re building a trading business — not just gambling on the side.

Wealth builders play long-term.
→ They don’t run from taxes.
→ They structure around them.
→ This is how you trade smarter.
→ This is how you win the tax game.

…But what if I told you the tax trap traders hate the most — the wash sale rule — suddenly disappears once you make this move?

Sounds too good to be true?

In my next post, I’ll show you exactly how this hidden benefit works — and the sneaky risk most CPAs won’t warn you about.

Because smart traders don’t just aim for gains — they design every dollar to build wealth.

→ Stay tuned. The rule you thought was stopping you? It might just become your greatest asset.

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Think you’re an Active Trader on Crypto? Not so fast.




You flip crypto daily.
→ You live on Coinbase.
→ You feel like a trader.
→ But here’s the truth most miss…
→ Crypto doesn’t count.
→ The IRS doesn’t see Bitcoin like stocks.
→ No Mark-to-Market election.
→ No ordinary loss write-offs.
→ No Active Trader perks.

You can trade 24/7, but to the IRS—you’re still just an investor.
→ Gains? Capital.
→ Losses? Capital.
→ That’s it. Period.

I’ve seen traders chase “Active Trader” status, only to find out they’ve been playing in the wrong lane.

The fix?
→ Shift your mindset.
→ Use the real crypto rules to your advantage: entity structure, timing, and capital gains planning.

Generational wealth isn’t built on myths.
→ It’s built on mastery — of the actual rules that apply to you.

The biggest myth isn’t Active Trader status.

It’s what people believe their losses can do.

Most crypto traders think one bad year
means no tax bill.

That assumption alone wrecks wealth plans.

Next post: the truth about losses.

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