Ryan A. Elblein, CPA

01/24/2026

This weekend if you’re sitting at home buried in snow thinking about how you can grow your business, you should come to the Elm City BNI visitors day! If you want to know more about the group, or see if somebody is already in your vertical, let me know!

11/04/2025

I've started up a monthly newsletter called The Monthly Blueprint! It's focused on providing tips and information to reduce your tax and accounting stress. Visit the link below to check out the first issue and subscribe!

Your blueprint to reducing tax and accounting stress

06/06/2025

Thinking of switching your entity structure?

It's something that can be done, but proper planning is key.

Here’s what to know:
✔️ You may need to file an election (like Form 2553 for S Corps)
✔️ State-level filings might apply
✔️ Changes often trigger tax or compliance issues
✔️ Most changes apply moving forward—not retroactively

You might consider a change if:

✔️You're growing and need liability protection
✔️You're bringing on a partner or investor
✔️Your income is rising and tax savings matter
✔️You're planning for a sale or acquisition

👉 Swipe through the post for full details.

DM me, or visit our website, if you're unsure about your business structure and we can help you sort it out.

06/04/2025

💰 Thinking about switching to an S Corp to save on taxes?

It might be the right move—but only if the numbers work for your specific business.

In this post, I break down what S Corps are, the potential tax savings, and the key catches business owners should know before making the switch.

👇 Want to know if it’s right for your business?
DM me or hit the “Get Started” button on our website (link in bio).

06/03/2025

📣 Starting a trade business? Read this BEFORE choosing your entity.

Sole prop, LLC, S Corp, partnership... the options can feel overwhelming. 🤯

✅ Are you starting from scratch or buying an existing business?
✅ Do you plan to grow or bring on partners?
✅ Want to avoid a surprise tax bill?

The right structure can protect you legally, save you on taxes, and keep things simple — if you choose wisely.

At Elblein CPA, we help trade business owners build solid foundations from Day One.

📩 DM me to schedule a free call where we’ll review your options.

06/02/2025

Picking the wrong business structure could cost you thousands.

Sole Prop? LLC? S Corp? C Corp?

If you’re a trade business owner you can’t afford to guess.

The right structure protects your personal assets, reduces taxes, and sets you up to scale.

Swipe 👉 to see the pros and cons of each.

Then ask yourself:
✅ Do I have the right entity type?
✅ Are you overpaying in self-employment taxes?
✅ Are you structured for growth?

💬 Not sure? DM me “ENTITY” and I’ll help you figure it out—no stress, no pressure.

08/13/2024

Hey plumbers! Are you maximizing the deductions for the tools and equipment you purchase?

Did you know that if you purchase tools and equipment for less than $2,500 per item or invoice you can deduct the entire amount in the year you purchase it?

It's true! All you need to do is have a de minimis expensing policy in place and make the de minimis safe harbor election with your tax return.

These deductions are becoming ever more important with the phase out of bonus depreciation through 2026, just make sure you keep detailed records of your purchases, so you don't miss out.

Don't know where to get started with a de minimis expensing policy? No problem! Send me a message and I will be happy to explain how I can help!

Send a message to learn more

06/16/2024

Big thank you to Shoreline Golf for helping me put together a basket for the Clinton CT Police Department Tip A Cop event coming up this Tuesday! Stop by and buy some raffle tickets for a chance to win a $200 Shoreline Golf gift certificate as well as some golf gear! (There’s always lots of other great raffle prizes too) All money raised goes to Special Olympics Connecticut!

02/05/2024

🔑 Unlock Tax-Free Earnings for Your Kids in Your Business!

While many social media tax "experts" tout the benefits of paying your children for working in your business, few dive into the essential details. Let's clear the air.

Yes, it's true! In 2024, you can pay your children up to $14,600 tax-free, but it's crucial to follow the rules:

👉 Ordinary and Necessary: The work performed by your child must be "ordinary and necessary" to the business. You can't just throw a picture of your child on a T-Shirt with your business name and pay them $14,600 for modeling. However, paying your child to help mow lawns in your landscaping business would be considered an ordinary and necessary task.

👉 Age-Appropriate Tasks: The work performed has to be age-appropriate. While your four-year-old's size may make having them run wire for your electrician business seem appealing, that would hardly be considered an age-appropriate task.

👉 Reasonable Compensation: The wage you pay your child must be similar to what you would pay any other person to do the same job. Would you pay an employee of your plumbing business $500/hr to assist with changing a toilet? Probably not, which means you can't pay your children that much either.

Treating them like any other employee is key - from formal employment agreements to following labor laws, maintaining timesheets, and paying them via payroll.

Now let's get into some of the benefits:

✅ No Payroll Taxes: For a Schedule C business or a partnership (in which each parent is a partner) wages paid to children under age 18 are not subject to payroll taxes.

✅ No Income Tax: Pay your child under $14,600 for 2024 and they won't pay income tax because it is under the standard deduction threshold.

✅ Business Deductions: Your business can deduct their wages (and payroll taxes, if applicable), saving you money on taxes.

✅ Roth IRA Contributions: With earned income, your child can invest in a Roth IRA, enjoying tax-free growth and withdrawals in retirement.

✅ Financial Education: A perfect opportunity to teach them about managing money, saving, and budgeting.

Paying your child to work in your business is a legitimate tax-saving strategy, but it must be done right to ensure the deductions are appropriate and substantiated.

---

If you found this valuable, follow me so you don't miss more content like this!

02/02/2024

With January behind us, it's the perfect time to focus on a critical aspect of your business's financial health: reconciling your books!

Why is this simple task so important?

☑ Catch Mistakes Early: Regular reconciliation helps identify discrepancies and errors before they become costly headaches.

☑ Accurate Financials: Ensure your financial records are precise, giving you a clear picture of your business's financial status.

☑ Informed Decision Making: Use accurate financials to make strategic decisions, like investing in new equipment or managing debt.

What accounts should you reconcile?

✅ Bank Accounts: Checking, savings, and money markets - reconcile them monthly.

✅ Credit Cards: reconcile these monthly. The statement date may not correspond with the end of a calendar month so plan accordingly.

✅ Loans: Yes, even loan accounts need regular checks.

Reconciliation might seem tedious, but it's a safeguard against future financial turmoil. Plus, it empowers you to make decisions with confidence.

👉 Pro Tip: Set a regular schedule for reconciliation to avoid the pile-up of unchecked records. Too often we see businesses with books that have not been reconciled in months (sometimes years! 😱) so make sure to keep up with regular reconciliations.

Need help or have questions about reconciling your books? Send me a message or comment below! We're here to assist you in keeping your business's finances on track.

---

If you found this valuable, follow me so you don't miss more content like this!

01/31/2024

Let's talk sales taxes for contractors in Connecticut!

While sales taxes may seem like a straightforward topic, they can actually become quite complicated for contractors in Connecticut.

A contractor's labor may be subject to sales tax depending on:

☑ The type of service provided (landscaping, HVAC, electrical, etc.)
☑ What type of property they are working on (commercial, income producing, owner-occupied residential, etc.)
☑ Who owns the property they are working on (charitable or religious organization, governmental agencies, etc.)

There are also sales tax considerations for the contractor's materials:

✅ Are you (or should you be) paying sales tax on the materials you buy?
✅ Are you charging a markup on the materials?
✅ Are you breaking out the materials separately on the invoices?

Many accounting software solutions struggle with the nuances of sales taxes without some fine-tuning. This is where a professional can make all the difference.

If you're confused about sales taxes or want to make sure your accounting software is set up properly, Elblein CPA is here to help!

---

If you found this valuable, follow me so you don't miss more content like this!