Quick Facts

Indexed Benefit Limits

Limit	2007	2008	2009	2010
401(k) elective deferral limit	$15,500	$15,500	$16,500	$16,500
401(k) participants age 50 or older may defer an additional:	$ 5 ,000	$ 5 ,000	$ 5 ,500	$ 5 ,500
401 (k) total deferral limit	$20,500	$20,500	$22,000	$22,000
403(b) TSA elective deferral limit	$15,500	$15,500	$16,500	$16,500
403(b) TSA elective catch up deferral limit	$ 3,000	$ 3,000	$ 3,000	$ 3,000
403(b) elective participants age 50 or older may defer an additional:	$ 5,000	$ 5,000	$ 5,500	$ 5,500
403 (b) total deferral limit including the elective catch up	$23,500	$23,500	$25,000	$25,000
Roth and Traditional IRA deferral limit	$ 4,000	$ 5,000	$ 5,000	$ 5,000
IRA participants age 50 or older may defer an additional:	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Roth and Traditional IRA total deferral limit	$5,000	$6,000	$6,000	$6,000
Simple Plan elective deferral limit	$10,500	$10,500	$11,500	$11,500
Simple participants age 50 or older may defer an additional:	$ 2,500	$ 2,500	$ 2,500	$ 2,500
Simple Plan elective total deferral limit	$13,000	$13,000	$14,000	$14,000
Coverdell Savings Account (Educational IRA) deferral limit	$ 2,000	$ 2,000	$ 2,000	$ 2,000

Long Term Care

The deductibility of premiums paid for qualified long term care contracts is limited to a dollar amount, based on the age of the covered individual at the end of the tax years.
These amounts are adjusted for inflation.

Age	2009 Limitation	2010 Limitation
40 or less	$210	$330
41 - 50	$600	$620
51 - 60	$1,190	$1,230
61 -70	$3,180	$3,290
71 or more	$3,980	$4,110

There is also a per diem limit on the amount of benefits received from a qualified long term care contract that may be excluded from income. The daily limit for 2009 is $280.
The daily limit for 2010 is $290.

Medicare

Part A	2010 Amounts
Deductibles and co-pays are reset each benefit period. A benefit period begins the day you go to a hospital or skilled nursing facility. The benefit period ends when you haven’t received any hospital care (or skilled care in a SNF) for 60 days in a row. If you go into the hospital after one benefit period has ended, a new benefit period begins. You must pay the inpatient hospital deductible for each benefit period. There is no limit to the number of benefit periods you can have.
Deductible 1-60 days	$1,100
Co-payment 61-90 days	$275 a day maximum of $8,250
Co-payment 91-150 days	$550 a day maximum of $33,000
Co-payment 151 days or more	You Pay All Costs
Skilled Nursing Confinement	First 20 Days You receive 100% Coverage
	Co-payment Days 21-100	$137.50 a day maximum of $11,000
When you are hospitalized for at least 3 days and enter a Medicare approved skilled nursing facility within 30 days after hospital discharge and are receiving skilled nursing care.
	After 100 Days You Pay All Costs
Part B Premium -(Effective 1/1/2010 Part B Premiums based upon the Medicare Beneficiaries modified adjusted gross income.)
Individual Filer Joint Filer
Less than $85,000	Less than $170,000		$110.50 monthly*
$85,001 - $107,000	$170,001 - $214,000		$154.70 monthly
$107,001 - $160,000	$214,001 - $320,000		$221.70 monthly
$160,001 - $213,000	$320,001 - $428,000		$287.30 monthly
More than $213,000	More than $428,000		$353.60 monthly
Part B Deductible	$155 annually
*Most people will continue to pay the 2009 part B premium of $96.40 in 2010.
Medicare Part D Prescription Drug Coverage Information

Estate and Gift Tax Exclusion Amounts

	Exclusion Amount	Highest Estate and Gift Tax Rate
2002	1,000,000	50%
2003	1,000,000	49%
2004	1,500,000	48%
2005	1,500,000	47%
2006	2,000,000	46%
2007	2,000,000	45%
2008	2,000,000	45%
2009	3,500,000	45%
2010	N/A (taxes repealed)	top individual rate under the bill (gift tax only)

Annual Gift Tax Exclusion

$13,000

The information on this page reflects the changes in the Internal Revenue Tax Code under the The Economic Growth and Tax Relief Reconciliation Act of 2001. Under the act there is a sunset provision which eliminates many of the changes made by the act effective January 1, 2011, without prior Congressional action.