Lgranov Tax LLC - Leon Granovsky, CPA

05/19/2026

Different Business Setups


The most common business structures include sole proprietorships, partnerships, C corporations, and S corporations. Limited liability companies, known as LLCs, are also widely used and are created under state law. Every option comes with different legal and tax considerations, so choosing the right structure involves weighing the protections and benefits each one offers.

The business entity you establish will determine which income tax return form you have to file. The differences can be both subtle and complex. Click through to compare ownership structures before making a decision for your firm.

04/26/2026

What are your chances of being audited now that the IRS is using AI? Jury is still out | CNN Business

Just looking at the raw numbers, less than 1% of filers have been audited by the IRS in recent tax years. Based on the latest data available, for example, in tax year 2021 the IRS pursued a mere 0.3% of filers overall.

03/10/2026

https://www.facebook.com/share/1DkG6peo24/

The proposed regulations explain how to open the accounts, who can request the federal $1,000 pilot contribution, and how the money will end up in your account.

03/01/2026

To put this in perspective, I've been speaking with Gemini a little too much... I am currently dealing with a minor Achilles tendon issue. This is a result of my conversation with Gemini after a short walk.

G - Immediate Elevation: Since you felt "pressure" (even if pain is < 1), you likely have micro-inflammation. Get that right foot above the level of your heart for the next 10 minutes while you settle back into the...

Me - How do I sit at a desk with my foot elevated that high

G - To get your foot above hip level while working, you have to break the standard "office chair" geometry. If your foot is just on a low stool, gravity is still pulling fluid down into that Achilles.
Here is the Executive "Zero-Gravity" Setup for your Schedule C deep-dive:
1. The "Ottoman" Pivot
The Gear: You need a second chair, a high ottoman, or a sturdy stack of Costco paper boxes.
The Height: The top of the support should be roughly level with your seat cushion or slightly higher.
The Angle: Do not sit "square" to the desk. Rotate your torso about 30 degrees to the left so your right leg can extend fully toward the support without hitting the desk's "privacy panel" or drawers.
2. The "Achilles" Gap (Critical)
The Support: Place a pillow or a rolled-up towel under your calf/mid-shin, not under the heel.
The Gap: You want the Achilles tendon and heel to "float" in the air. This prevents any direct pressure on the "near-zero" pain site while allowing the blood and lymph to drain back toward your hip.
3. The "Monitor" Adjustment
The Neck Guard: Because you are now leaning back or rotated, your distance to the screen has changed.
The Fix: Pull the monitor closer to the edge of the desk and increase the zoom to 150%. This prevents "Sch C Hunch," where you crane your neck forward to read the small numbers on the wife's prior-year return.

Me - Can you provide a caricature of what you just described?

02/25/2026

NJ Just became a lot cheaper to retire in for most retires over age 65

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02/17/2026

One Big Beautiful Bill Act: Trump Accounts (officially known as Section 530A accounts).
Established under the OBBBA, Section 530A Trump Accounts are tax-advantaged investment vehicles for U.S. citizens under 18. For the 2025 tax season, parents use IRS Form 4547 to claim a $1,000 federal seed for children born 2025–2028. Private grants of $250 are available for children 10 and under in certain ZIP codes, and employers may match up to $2,500 annually. Personal contributions currently require filing Form 709. While elected on 2025 returns, initial funding begins July 4, 2026. Learn more at TrumpAccounts.gov.

Established under the OBBBA, Section 530A Trump Accounts are tax-advantaged investment vehicles for U.S. citizens under 18. For the 2025 tax season, parents use IRS Form 4547 to claim a $1,000 federal seed for children born 2025–2028. Private grants of $250 are available for children 10 and under ...

02/14/2026

https://www.facebook.com/share/p/1FNQyoUEfW/

Many of us are now receiving the tax documents we need to file our tax return. If you sold or disposed of digital assets using a broker, you might receive a new Form 1099-DA. Most of these statements will not include the basis for digital asset transactions in 2025 and you'll have to calculate the basis on your own to determine your gain or loss.

Don't forget: You must report any related income, gains, or losses, on your tax return, whether you receive a Form 1099-DA or not.

For more important reminders about digital assets, visit https://ow.ly/fpkE50Y7Gpc.

02/06/2026

With Law Offices of Vlad Portnoy, P.C. – I just got recognized as one of their top fans!

Vlad where's my trophy 🏆

02/03/2026

01/01/2026

Happy and healthy New Year 🎊