Today is our last post in our recent series of posts highlighting the changes in estimated taxes for 2010. I hope this has been informative for you. April 15, the next estimated tax deadline, will be here before you know it.

Our topic for this post is personal exemption and itemized deduction phaseouts.

According to the IRS, for 2010, taxpayers with an Adjusted Gross Income (AGI) above a certain amount will no longer lose part of their deduction for personal exemptions and itemized deductions.

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.

Our series of posts about the changes to estimated taxes for 2010 continues. Our topic for today is Roth IRA conversions.

According to the IRS, beginning in 2010, the modified Adjusted Gross Income (AGI) and filing status requirements for conversions to Roth IRAs are eliminated.

The IRS adds that for any conversions in 2010, any amounts that would be included as income will be included in income in equal amounts in 2011 and 2012. You can choose to include the entire amount in income in 2010.

Our series of posts about the changes to estimated taxes for 2010 continues.

Today’s topic is the Roth IRA income limit.

According to the IRS, you may be able to make a Roth IRA contribution if your modified AGI is less than $120,000 ($177,000 if you are married filing jointly).

Hard to believe it’s February already!

We continue today with our series of posts about the changes to estimated taxes for 2010. In case you haven’t been following the blog lately, we’ve been covering the things the IRS suggests you keep in mind for 2010 estimated tax payments.

Today’s topic is IRA deductions.

According to the IRS, you may be able to take an IRA deduction if you were covered by a retirement plan and your 2010 modified Adjusted Gross Income (AGI) is less than $66,000 ($109,000 if married filing jointly or qualifying widow(er)). If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2010 modified AGI is less than $177,000.