Kinzua Taxes & Bookkeeping, LLC

07/31/2025

Dear Taxpayers,

I just signed a renewal contract with Thomson Reuters to support tax season 2025, which starts with calendar year 2026. That invoice was... intense. However, when the cost is divided across clients, it becomes more understandable.

Anyone curious about pricing should know this isn’t about squeezing people. My profit margins aren’t exactly 100%. Software costs far outweigh hardware expenses. Monitors, keyboards, computers, and phones are inexpensive by comparison. True costs come from licensing, registration fees, secure portals, compliance tools, and many hours required to use everything properly.

Running a tax practice isn’t just about entering W2s. Plenty of behind-the-scenes tasks happen: gathering information, reviewing for accuracy, following up, and hitting strict deadlines. These services demand real effort and time.

I’m not asking for sympathy. I just want to be transparent about what goes into providing reliable, compliant tax services. Inflation is tough on everyone, especially small businesses. I tend to gravitate toward working with fellow business owners because they usually understand the layers and expenses involved in keeping operations running smoothly.

Appreciation goes out to each of you who has supported this journey. October 2026 will mark ten official years in business, and I’m proud to keep showing up for you.

Matthew Trenchik, EA
Kinzua Taxes & Bookkeeping, LLC

05/10/2025

What’s the Deal With the $19,000 Gift Tax Limit (2025)?

You might’ve heard you can give someone $19,000 without paying taxes. That’s true — here’s what it really means:

In 2025, the IRS allows you to give up to $19,000 to any one person during the year without needing to file a gift tax return (Form 709) and without triggering gift tax. You can do this for as many people as you want.

Example: Give $19,000 to your child, $19,000 to your grandchild, and $19,000 to a friend — all in the same year — and none of it is reportable or taxable.

Married couples can give up to $38,000 to the same person in 2025.

If you give more than that to one person in a single year, you’ll need to file Form 709. But unless your lifetime gifts go over $13.99 million, no tax is actually due — it just chips away at your lifetime exemption.

This isn’t a deduction or credit. It won’t reduce your income tax or give you a refund. It’s just a reporting rule that applies when you give, not when you receive.

So in short: you can gift up to $19,000 per person in 2025 with no tax and no paperwork — just keep it under that limit per person, per year.

04/27/2025

04/14/2025

Just made $500 today from brand new clients—filing tax extensions for a living isn’t looking too bad.

Who else needs one? $100 Special is still on. Let’s get it done before the clock runs out.

04/05/2025

🚨 Notice: 2024 Tax Extension Fee

Effective this year, a $100 fee will be applied to all tax extension filings.

This fee:

✔ Shows you're serious about getting your taxes done
✔ Offsets software + setup costs on my end
✔ Ensures my time is prioritized for committed clients
✔ Will be credited toward your 2024 tax return invoice

Send a message to learn more

01/20/2025

We got our man back! It’s official.

01/15/2025

Reminder: Today is January 15, 2025 – the final day to submit your estimated tax payments for the 2024 tax year.

What does this mean for the average taxpayer? If you expect to owe a significant amount to the IRS for 2024, submitting your estimated payment today can help you stay ahead of the game. Meeting this deadline not only avoids potential penalties but also keeps your tax planning on track.