My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.

By Topics

0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)


Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)


Income Tax Law Changes in 2010

Contributed by mm | January 11, 2010 7:10 PM PST

6394-tax.jpgOur legislators in D.C. are determined to challenge everyone's intellectual capacity in handling ever-growing tax code every year. What will 2010 bring?

TurboTax maker Intuit compiled a good list of the new tax code that will govern our tax life in 2010 (and future years). Among the changes, the most important one for savers will be the Roth IRA conversion change (emphasis is mine):

Roth IRA Conversions

Starting in 2010, individuals with any amount of modified Adjusted Gross Income are free to switch a traditional IRA to a Roth IRA. Conversions are fully taxable at your regular tax rate. For conversions in 2010, taxpayers can spread the tax due over two years. Half the tax will be due in 2011, and the remaining half will be payable in 2012. Removing the limit on conversions effectively eliminates the income limit on contributions to Roth IRAs. A taxpayer with income too high to use a Roth will be able to contribute to a traditional IRA (which does not have income limits for contributions) and immediately convert to a Roth.

Smart tax planners already started to advise their clients a few years back when it was confirmed that the full unrestricted conversion will be allowed starting 2010. But now every high income filer with a saver's mentality should be familiar with this rule. The key point: if you are priced out of Roth IRA (about $105,000 for single filer and $167,000 for joint filers), you can still contribute up to $5,000 to traditional IRA and convert to Roth IRA immediately. All the nice perks associated with Roth IRA, like no required withdrawal, and penalty-free withdraw of the original contribution, will be yours to keep.

Another tax change is related to estate tax. This year, all the rich people can die free from estate tax thanks to a lapse in Congress action.

Estate Tax Repealed

The federal estate tax will be eliminated for estates of individuals who die in 2010 unless Congress acts by December 31, 2009 to retain it.

No wonder many multi-millionaires had been counting on life support to survive the divide of the decade!

This Post Has Received 69 Comments. Share Your Opinions Too.

Mike Commented on January 13, 2010

Hey mm,

I'd love to hear what you think about the conversion. I spent a good chunk of my time yesterday arguing with FinancialSamurai and JoeTaxpayer back on FinancialSamurai's blog about the merits of a Roth IRA.

Anyway, just a quick question for you - I know that you can spread your tax liability from conversion over two years - do you know what that allocation would be (50/50, 75/25, whatever you want)?

Mrs. Money Commented on January 20, 2010

I noticed more taxes are taken out of our paychecks this year! I am so mad about that.

Mike Habib Commented on May 16, 2010

If you believe a Roth IRA is better than a traditional IRA, and want to remain in the market for the long term, consider converting traditional-IRA money invested in beaten-down stocks (or mutual funds) into a Roth IRA if eligible to do so. Keep in mind, however, that such a conversion will increase your adjusted gross income for 2009. More info here:

TracyNuami Commented on January 1, 2017

viagra soft online buy celebrex Generic Avodart Trazodone No Script Needed Buy Cialis full article

MichaelNub Commented on February 4, 2017

wh0cd365612 adalat albuterol anafranil trazodone generic generic cialis soft tabs synthroid levitra lisinopril celexa clonidine drug

Bennyanymn Commented on February 28, 2017

wh0cd610711 where to buy azithromycin augmentin 875mg more bonuses indocin generic azithromycin

AlfredCaf Commented on March 2, 2017

wh0cd628373 read more here additional reading

MichaelNub Commented on March 17, 2017

wh0cd325212 order celebrex online acyclovir ventolin nebulizer atomoxetine price tretinoin cream

AaronSit Commented on March 29, 2017

wh0cd2524 robaxin viagra online safe seroquel rimonabant

TracyNuami Commented on May 7, 2017

wh0cd975055 robaxin phenergan amoxil zithromax more tamoxifen diclofenac 75mg

AaronSit Commented on May 9, 2017

wh0cd942217 Generic Eurax acomplia

AaronSit Commented on May 23, 2017

wh0cd745167 yasmin provera clonidine rimonabant generic for arimidex

AaronSit Commented on May 30, 2017

wh0cd388402 erythromycin tablets where to buy albenza generic best place to buy celexa

EugeneOrert Commented on June 4, 2017

wh0cd494887 yasmin view atarax for children metformin metformin buy propecia generic stromectol for more info

AlfredCaf Commented on June 7, 2017

wh0cd494893 citalopram prozac advair buy albendazole buy stromectol effexor lisinopril 2.5 mg neurontin

TracyNuami Commented on June 19, 2017

wh0cd180084 generic for benicar 20 mg buy stromectol cafergot recommended site discount prednisolone generic tenormin tadalafil

AlfredCaf Commented on July 17, 2017

wh0cd140860 metformin 500 mg tablets cheap seroquel

20170721 yueqin Commented on July 20, 2017

Stanleyvom Commented on July 25, 2017

viagra soft tabs description
buy viagra online
pages search viagra charles 250k

NFL Preseason Commented on August 2, 2017

SonjaDearf Commented on August 6, 2017

tempurpedic reviews consumer reports beautyrest shakespeare luxury plush reviews flippable mattress reviews the my pillow reviews
highest rated bed mattress cocoon by sealy reviews amerisleep bed reviews american signature mattress reviews
bamboo mattress review memory foam mattress reviews 2016 contour pillow reviews lucid 10 memory foam mattress reviews

review reviews saatva luxury firm reviews nest reviews 2016 mattress brand reviews
serta amber creek review miracle foam mattress reviews memory foam pillow review my pillow review
king bed reviews tuftandneedle review cotton polyester blend sheets reviews firm mattress review

AlfredCaf Commented on August 25, 2017

wh0cd457771 citalopram 20mg generic nexium amoxicillin 875 mg

Mikebrutt Commented on September 2, 2017 buy essay online

CharlesLiede Commented on September 5, 2017

wh0cd716557 cafergot buy tadalis sx azithromycin

KennethCed Commented on September 15, 2017

medrol pack purchase cialis

AlfredCaf Commented on September 16, 2017

hydrochlorothiazide cipro buy online order viagra

MichaelNub Commented on September 25, 2017

advair effect on eyes generic viagra propecia nutritional deficiency caused by doxycycline induction with cytotec

MichaelNub Commented on September 25, 2017

neurontin tramadol withdrawal addiction ultram side effects of pyridium pulmicort and singulair side effects demeclocycline off label schizophrenia fluconazole contagious using retin a wrinkles

chenlina Commented on October 26, 2017


linpingping1314 Commented on November 25, 2017

chenlina Commented on November 26, 2017


chanyuan Commented on November 29, 2017


Michaelrhype Commented on December 17, 2017

viagra cutting pills
viagra without prescription
viagra 20 mg
viagra without a doctor prescription
viagra force online
viagra without a doctor prescription
sildenafil 50 mg efectos mujer
viagra without a doctor prescription
how can i buy viagra in australia

ShawnBop Commented on December 19, 2017

viagra sample online
viagra without a doctor prescription
viagra sleeping pills
viagra without a doctor prescription
split viagra pill
viagra without a doctor prescription
can i buy viagra in the chemist
viagra ohne rezept aus deutschland
when to take 100mg of viagra

ConradInsut Commented on December 19, 2017

buying viagra in a chemist
cheap viagra
price difference between viagra cialis
viagra price
australia viagra online

Michaelanoxy Commented on December 20, 2017

best discount cialis
cheap cialis
buying cialis usa
cialis online
best discount cialis

ShannonPaics Commented on December 21, 2017

buy cialis europe
cheap cialis
can you buy cialis in hong kong
buy cialis
order cialis online canada

Georgemuh Commented on December 21, 2017

order cialis online with prescription
buy cialis
cheap cialis overnight delivery
cheap cialis
cheap cialis in usa

Michaellab Commented on December 22, 2017

buy cialis online europe
buy cialis
can you really buy cialis online
buy cialis
buy cialis canada online

CarolynmiG Commented on December 23, 2017

payday loans no credit check
payday loans no credit
payday loans no credit check
payday loans no credit

BruceSwesk Commented on December 23, 2017

member php buy levitra
vardenafil 20mg
buy levitra united states
vardenafil 20mg
buy cialis and levitra
buy cialis levitra viagra
buy levitra 20 mg online

Jamesmax Commented on December 23, 2017

buy levitra online prescription
levitra 20 mg
cheap genuine levitra
levitra prices
cheap levitra online uk
levitra buy no prescription
buy levitra in south africa

NormaFaw Commented on December 24, 2017

payday loans no credit
payday loans no credit
payday loans no credit check
payday loans online no credit check

GeorgeJag Commented on December 25, 2017

leadmedic online pharmacy generic viagra cialis
viagra online
buy viagra online china
buy viagra online pharmacy
viagra online free sample
cheap viagra online
where to buy viagra in south africa
viagra online
pfizer viagra 50mg preis

MichaelexCar Commented on December 26, 2017

can you buy viagra online in uk
viagra online pharmacy
pfizer viagra price 100mg
buy viagra online
how do i order viagra
cheap viagra online
viagra and nitro pills
cheap viagra online
anwendung viagra 50 mg

EdwinNum Commented on December 27, 2017

cialis for sale in nz
cialis prices
ok split cialis pills
cialis prices
cheap brand name cialis
cheap cialis
how to order cialis online
cialis prices
cialis black 800mg pills

ShirleyJally Commented on December 27, 2017

casino games
real money casino
real money casino
real money casino

Kennethmup Commented on December 29, 2017

venta de viagra online sin receta
viagra without a doctor prescription
cual es el generico de viagra
viagra without prescription
safe website buy viagra
viagra cost
buy viagra stores uk
viagra prices
viagra pillen werking

Javiergoomo Commented on December 29, 2017

200mg of viagra
viagra without prescription
can get viagra walk in clinic
viagra without presciption online
can i buy viagra at walmart
cheap viagra
cheap viagra for sale in the uk
viagra cheap
pfizer viagra discounts

Myrnareild Commented on December 29, 2017

free casino games
online casino
casino online
online casino

CarlosLoope Commented on December 30, 2017

casino craps gambling
online casino
casino on line america francia
online casinos
pokies lucky 88

Edwardsib Commented on December 30, 2017

online pokies paypal
online casino
online roulette with live dealer
casino real money
online video poker casinos

DesireeCag Commented on December 30, 2017

real money casino
free casino games
real money casino
online casino

Paulineled Commented on December 31, 2017

online casino
casino online
real money casino
real money casino

BarbaraRep Commented on December 31, 2017

free casino games
casino online
online casino
free casino games

Nancyjaw Commented on January 1, 2018

casino games
casino online
free casino games
online casino

Maxinesop Commented on January 2, 2018

free casino games
online casino
online casino
casino online

JosephEvano Commented on January 3, 2018

igt slots and multiplay video poker
new zealand online casino games
online casino
new casinos accepting us players

chenlina Commented on January 4, 2018


Judithcruip Commented on January 6, 2018

free casino games no download
free casino games
free slots games

Patrickemogs Commented on January 8, 2018

free casino slots
online casinos
slotomania free slots
free slots online

KerryDyese Commented on January 9, 2018

free slots no download no registration
free casino games

wanglili Commented on January 9, 2018

Get A Loan Commented on January 11, 2018

loan 10 top loan companies cash loans no credit check emergency loans

Williamvek Commented on January 12, 2018

sistema de coordenadas autocad
autocad viewer
autocad r14 serial
download autocad
autocad 2012 software download
autocad map3d 2013 download
autocad 2018
autocad lt 64 bit download

Speedycash Commented on January 12, 2018

loan direct payday lenders loan cash loans

Ronaldbiafe Commented on January 12, 2018

viagra sale dubai
online viagra
generic viagra us pharmacy
buy viagra
qual nome generico viagra
best price viagra
viagra pfizer 100mg
viagra prices
viagra cialis levitra price

Ronaldbiafe Commented on January 13, 2018

how long does 25mg viagra take to work
viagra online
viagra pills india
online viagra
fda approval for generic viagra
viagra prices
online pharmacy low price on viagra
lowest prices on viagra
can you buy viagra online yahoo

Helenmex Commented on January 17, 2018

real money casino
casino online
online casino
real money casino

Add Your Comments

Remember personal information?

(It will take a few moments for your comment to be published. Please do not close the window until then.)

Read More ... 92 Posts In The Same Category

This page was last rebuilt at January 17, 2018 09:13 AM PST. (354 Words)



Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar


Copyright 2003-2014, All Rights Reserved. (Privacy Policy)