TAX SEASON IS UPON US: Tax season has returned and as we all know we will have to face an unusual situation In trying to get our taxes done this year, but in a safe way. Here at AIM Tax we are going to try and provide as many avenues as possible to get that… [Read More]
The CARES Act Eases Retirement Account Rules During COVID-19
It should be a last resort, but understandably, people are looking to their retirement plans as a source of cash to get through the pandemic. The Coronavirus Aid, Relief, and Economic Security (Cares) Act includes several provisions that cover retirement accounts. The act temporarily increases how much you can borrow from your retirement and waives… [Read More]
Gambling: Taxes and Beyond
Gambling is a recreational activity for many taxpayers, and as one might expect, the government takes a cut if you win and won’t allow you to claim a loss in excess of your winnings. In fact, there are far more tax issues related to gambling than you might expect, and they may impact your taxes… [Read More]
Is it the IRS or a scam?
The IRS called me just now and said I owe back taxes, and if I don’t pay right away they are sending the sheriff over to arrest me. The IRS just called me and said that there was suspicious activity going on with my social security number. That I need to pay a fee to… [Read More]
How long should I save my tax records after tax season?
I get this question all the time. My answer simply is this. It depends. People generally save their tax records because they are afraid of being audited. Another reason people save their records is with regards to maintaining their records of their capital assets such as investments in stocks and mutual funds or depreciating assets… [Read More]
11 Differences between Mortgage Brokers and Banks
What is difference between Mortgage Brokers and Banks and Credit Unions mortgage lending divisions? A common misperception is that Mortgage Brokers are a “middleman” and thus have to charge higher rates and fees. In fact, the opposite is true, since Banks and Credit Unions don’t lend their own money to clients, but rely on the… [Read More]
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