What Is IRS Form 1040? If you have ever filed a federal income tax return, you have probably encountered IRS Form 1040. This is the primary form individuals use to report their income, claim eligible deductions and tax credits, calculate their federal income tax, and determine whether they owe money or qualify for a refund.…

By AIM Financial | Federal Income Tax Preparation Services The Earned Income Tax Credit (EITC) is one of the most valuable federal tax credits available to eligible working individuals and families. Designed to help low- and moderate-income workers, this tax credit can reduce the amount of federal income tax owed and may even result in…

By AIM Financial | Michigan Income Tax Preparation Services Filing your Michigan income taxes can feel confusing, especially when you receive several tax forms from employers, banks, retirement accounts, or other sources of income. Understanding which forms you need, what they mean, and how they affect your tax return can make tax season much easier.…

Receiving money, property, or an inheritance from a foreign relative can be a significant financial event. Whether you receive funds from a family member living overseas, inherit assets from a foreign estate, or receive a large monetary gift from someone outside the United States, it is important to understand how these transactions may affect your…

If you received a tax filing extension, October 15 is an important date to remember. For Michigan residents, meeting the federal extension deadline also means making sure your Michigan state income tax return is completed and filed correctly. Whether you live in Grand Rapids, Kentwood, Wyoming, or elsewhere in West Michigan, AIM Financial can help…

If you filed for a federal income tax extension, the October 15 deadline is quickly approaching. For individuals who requested an extension for their 2025 federal income tax return, October 15, 2026, is generally the final deadline to file. If you have not completed your taxes yet, now is the time to get organized and…

By AIM Financial | Tax Preparation Services in Grand Rapids, Kentwood, Wyoming, and Michigan and all Stated in the USA What You Need to Know About Filing a Tax Extension Tax season can be stressful, especially when you are missing important documents, dealing with unexpected financial changes, or simply need more time to prepare your…

Ministers, pastors, clergy members, and church leaders often have unique tax situations that require specialized attention. One of the most common questions is: If a minister receives a salary plus a housing allowance, is the housing allowance considered taxable income? Understanding ministerial tax rules can help clergy members file accurate tax returns, avoid unexpected tax…

Understanding the difference between Form W-2, Form 1099-MISC, and Form 1099-NEC is essential for filing an accurate federal income tax return. These tax forms report different types of income to the Internal Revenue Service (IRS), and knowing how each form works can help you avoid filing mistakes, understand your tax obligations, and plan ahead. At…

If you need a copy of a previous tax return, a Form W-2, or another wage and tax document, knowing where to start can save you time and frustration. Whether you are applying for a mortgage, purchasing a home, completing financial paperwork, or preparing to file your current taxes, having the correct tax documents is…