2010 Estimated Taxes and Expiring Tax Benefits

As we get closer to the next quarterly estimated tax deadline of April 15, we continue our series of posts to the changes in estimated taxes for 2010.

Today’s topic covers the series of tax benefits that are, according to the IRS,  scheduled to expire and won’t be available in 2010. These include,

• Deduction for educator expenses in figuring Adjusted Gross Income (AGI).
• Tuition and fees deduction in figuring AGI.
• Increased standard deduction for real estate taxes or net disaster loss.
• Itemized deduction or increased standard deduction for state or local sales or excise taxes on the purchase of a new motor vehicle.
• Deduction for state and local sales taxes.
• The exclusion from income of up to $2,400 in unemployment compensation.
• The exclusion from income of qualified charitable distributions made from IRA accounts.
• Government retiree credit.
• District of Columbia first-time homebuyer credit (for homes purchased after 2009).
• Extra $3,000 IRA deduction for employees of bankrupt companies.
• Certain tax benefits for Midwestern disaster areas, including the additional exemption amount if you provided housing for a person displaced by the Midwestern storms, tornadoes, or flooding.

Do any of these affect your 2010 estimated tax situation? Tell us about it in the comment section below.