There was minimal inflation in 2009; therefore, tax numbers that are annually adjusted for inflation will see little or no change for 2010. The IRS has released the 2010 numbers for the more than three dozen tax breaks that are subject to annual inflation adjustments.

Among the numbers you'll use for your 2010 tax planning and for filing your 2010 tax return in 2011:

• The exemption amount for each taxpayer and each dependent remains at $3,650.
• The standard deduction amount increases slightly for heads of household in 2010, going from $8,350 to $8,400. Singles will see no change in their standard deduction; it remains at $5,700. The standard deduction for married couples filing a joint return will be unchanged at $11,400.
• The annual gift tax exclusion will remain at $13,000 for 2010.

The Social Security Administration has announced that the maximum earnings subject to social security tax will not change for 2010. The taxable wage base will stay at $106,800.

© copyright 2009