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Please check here often to view recent changes in the U.S. Tax Laws.
Updated: April 4, 2010
The Health Care and Education Reconciliation Act of 2010 was signed by The President on March 30, 2010.
The Patient Protection and Affordable Care Act was signed by The President on March 23, 2010.
2010 Retirement Contribution Limits:
| IRA | $5,000 |
| IRA catch-up | $1,000 |
| 401(k)/403(b) | $16,500 |
| 401(k)/403(b) catch-up | $5,500 |
| SIMPLE | $11,500 |
| SIMPLE catch-up | $2,500 |
| SEP IRA | $49,000 |
| SEP IRA catch-up | $5,500 |
| The catch-up is for those that are 50 years old or older before the close of the tax season. |
|
2010 Estate Tax Limits:
| Annual gift tax exclusion | $13,000 |
| Estate tax exemption | Scheduled to expire |
2010 Mileage rates
Business: 50 cents/mile
Medical/moving: 16.5 cents/mile
Charitable: 14 cents/mile
DISCLAIMER:
Pursuant to recently-enacted U.S. Treasury Department Regulations, I am now required to
advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.
