Our Posts

Income Tax 101 for Investment and Tax Planning

With this article, I hope to equip the reader with a basic understanding of the individual income tax calculation and the use of a taxpayer’s marginal tax rate or tax bracket in investment and income tax planning.

Get Ready for Tax Season

It feels as though we just finished this tax season with the next one already upon us. No time to waste so let’s forge ahead!

Six Tax Implications of the 2020 COVID Relief Bill

The Consolidated Appropriations Act, 2021 includes COVID-related relief in the form of the COVID-related Tax Relief Act of 2020 (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTR). COVIDTRA and TCDTR include multiple provisions impacting businesses and individuals to provide relief and stimulate the economy.

Take Advantage of Tax Rules To Decrease Your Debt Service Expense

Debt can sure come in handy when buying a major asset like a house or car or managing unexpected expenses. Thankfully, the interest you pay on this debt can often provide a helpful deduction on your tax return. However, the IRS is very specific regarding the situations where interest is or is not deductible. The rules can be quite complex, so a discussion with your tax professional is always a good idea. Here are several typical examples of how the IRS treats interest payments.

Estimated Tax Payments

What a relief it is as individual taxpayers to get our pesky income tax return filed on July 15 (or sometime thereafter, on extension) and have the IRS leave us alone for another year, right? Well – maybe, depending on your income and income tax withholding on said income.

Paying for College: Tax Savings

The tax law changes of 2018 eliminated the tuition and fees deduction for college expenses. There are still several ways to save on taxes when saving for and paying for college.

The Importance of Giving - Parsec Financial

Tax Implications of Charitable Giving

For many, charitable giving is an important personal value. For those of you who already have charitable intent, then a bit of planning will ensure that your gift is optimized from a tax standpoint, which is a true win-win for both you and the charity you choose to support. 

parsec financial news

(Tax loss) Harvest Season is Almost Here!

The kids are back in school, the leaves are changing colors, and pumpkin spice lattes – the age-old harbingers of harvest season – are everywhere. At Parsec, we are preparing for the harvest…of tax losses. Every year, beginning in late October/early November, Parsec’s portfolio managers will scour clients’ taxable accounts for meaningful losses, which we

Scroll to Top

Not a Client But want to receive updates?

Please sign up to join our mailing list and receive our latest news, thought leadership content and invitations to upcoming webinars.