The IRS recently issued Tax Tip 2010-03, which provides taxpayers with guidance on determining filing status for 2009 tax returns. For additional information, you can review IRS Publication 501. The text of IRS Tax Tip 2010-03 follows. Eight Facts About Filing Status Everyone who files a federal tax return must determine which filing status applies [...]
Determining Your MAGI
There are income limits for contributing to an IRA (traditional and Roth), and below are links by filing status to illustrate the income limits in the situation where you are or are not covered by an employer-provided retirement plan, given your filing status. This, along with your filing status and your Modified Adjusted Gross Income [...]
Real Estate Tax Standard Deduction Increase to Expire After 2010
Yet another taxpayer-friendly provision in the tax code that will be expiring at the end of 2010 is the increase in standard deduction for real estate taxes paid. (If you’ve been following these posts, you’ll realize that this is another “stealth increase” in taxes, beginning in 2011.) In today’s tax law and until you’ve paid [...]
2009 IRA MAGI Limits for a Filing Status of Married Filing Jointly or Qualifying Widow(er)
2009 IRA MAGI Limits for a Filing Status of Married Filing Jointly or Qualifying Widow(er) Note: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately, who did not live with his or her spouse during the tax year, is considered Single and will use the information on that page to [...]
2009 IRA MAGI Limits for a Filing Status of Single or Head of Household
2009 IRA MAGI Limits for a Filing Status of Single or Head of Household . Note: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately, who did not live with his or her spouse during the tax year, is considered Single and will use the information on this page to [...]
2009 IRA MAGI Limits for a Filing Status of Married Filing Separately
2009 IRA MAGI Limits for a Filing Status of Married Filing Separately Note: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately, who did not live with his or her spouse during the tax year, is considered Single and will use the information on that page to determine eligibility. For [...]
And if you've come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed "advisor's advisor".
