We here at Easy Estimated Taxes are conducting interviews with people who have filed form 1040ES (estimated taxes) within the LAST YEAR.  If you meet our target customer profile, we will pay you $50 for a 1 hour discussion.

Yep, it’s just that simple!

To determine if you fit our target profile, all you have to do is answer a few, brief questions by clicking this link to our qualifying survey.

Your responses will be kept strictly confidential, will not be shared, and will only be used for product development purposes.

Please respond ONLY if you have filed and paid estimated taxes within the last year.

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.

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.

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.

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).