Online gambling and sports betting have become increasingly popular, but the federal tax rules can be confusing. For taxpayers using sportsbooks, understanding how to report gambling winnings, document losses, and reconcile sportsbook statements with Forms W-2G is essential. AIM Financial helps taxpayers navigate these requirements and avoid common reporting mistakes. Are Online Gambling Winnings Taxable?…

Read More

Farming is more than a business—it’s a way of life. But managing the financial and tax side of an agricultural operation can be complicated. From fluctuating income and equipment purchases to changing tax regulations, farmers face unique challenges that require thoughtful planning. Aim Financial can help farmers navigate common tax issues and make informed decisions…

Read More

​ Applying the Partnership Distribution Framework: Understanding Section 732 and Preparing Form 7217 Partnership property distributions have long required careful tax analysis, but the introduction of IRS Form 7217 has added an important reporting requirement for partners receiving property distributions subject to Internal Revenue Code Section 732. Properly identifying when a distribution falls under Section…

Read More

For many real estate investors, a home equity line of credit (HELOC) is one of the most flexible and cost-effective ways to finance the purchase or improvement of investment properties. By tapping into the equity in a primary residence, investors can quickly access funds for down payments, renovations, or other investment opportunities. However, one of…

Read More

Choosing between a Roth IRA and a Traditional IRA is one of the most important retirement planning decisions you can make. Both accounts offer valuable tax advantages, but the right choice depends on your current income, future tax expectations, and long-term financial goals.A Traditional IRA allows you to contribute pre-tax dollars, which may reduce your…

Read More

Accurate financial records are the backbone of any successful business, yet bookkeeping is one of the most commonly neglected areas—especially for small business owners juggling multiple responsibilities. Hiring a professional bookkeeping company isn’t just about saving time; it’s about gaining clarity, improving decision-making, and setting your business up for long-term success. At its core, bookkeeping…

Read More

Tax season is right around the corner — and the best way to make filing stress-free is to start preparing early. At AIM Tax & Mortgage, we make tax preparation simple, organized, and accurate so you can feel confident your return is done right. We also have a bilingual tax specialist fluent in Spanish and…

Read More

Why should I hire a Tax Pro? Preparing your own taxes can be a daunting task. You have to wade through tax records and and receipts. That can be frustrating and eat up more hours that you have to devote to it.  What are the new rules and regulations you ask yourself?  Where do I…

Read More

Providing tax relief for those who qualify You might have sometime wondered how to get a tax break. Especially now during the coronavirus pandemic, saving money is something everyone is looking into. Tax breaks are something every American wants to know about however often don’t know how to get started or where to look. Always ask a…

Read More