Snow Leopard is too old. Once you have that installed, upgrade to 10.7.5 Lion.
Then install Firefox Legacy 68.12 ESR for modern browser support. It is up to date as of this week, in terms of security updates.
parrotgeek.com
Forget about Windows XP, unless you have a specific reason to run it.
BTW, my Mac Pro 2006 runs well with 10.11 El Capitan and Windows 10. It could function as someone's primary computer (although not for me). It runs even better now that I paid US$20 to get two new CPUs. It's now it's roughly as fast as a Core i5 Mac from several years ago.
Then install Firefox Legacy 68.12 ESR for modern browser support. It is up to date as of this week, in terms of security updates.
Firefox Legacy
A modern version of Firefox modified to work on older Mac OS X versions, including 10.6 Snow Leopard, 10.7 Lion, and 10.8 Mountain Lion.

Forget about Windows XP, unless you have a specific reason to run it.
Indeed, a mid-2007 iMac. With 10.7.5 Lion and Firefox Legacy 68 ESR, it can work quite well, even with modern banking and tax sites.I personally wouldn't use a 14 old Mac as my main Mac. Then again, my parents only computer is a Mac I gave them and it a Mid 2007 iMac.
BTW, my Mac Pro 2006 runs well with 10.11 El Capitan and Windows 10. It could function as someone's primary computer (although not for me). It runs even better now that I paid US$20 to get two new CPUs. It's now it's roughly as fast as a Core i5 Mac from several years ago.
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