question about tax deductions for sigle wide and land owner?

My inlaws took out a loan in there name for a house for my husband and I. WE PAY all the morgage payments,taxes, insurance, ect. They make it seem like they only get a couple hundred $ back a year (on their taxes) for this house. I was browsing some sites and they said more like 00, but I am not sure if that is correct. So can anyone give me an estimate on what they might get. The apprasal is valued at atleast 80,000 could possibly be more. We bought the house for 54,000
the intrest rate is 8.9500. Any help would be great!! Thanks
I know you are trying to help, but I wish you would read my question before you answered. My husband and I don’t want to claim the taxes on this house. We were just wondering how much his parents got.

Does a company get tax deduction when they donate their products to a church?

When a company donates some of their products to a church do they get tax deductions? Also do they record the donation at the retail price or how much it takes them to make it? For example it takes them to make but they sell it for . Also what is the percentage rate of tax deductions for them? Thanks a bunch!

Are the insurance deductions taken out of your paycheck by your employer tax deductible?

If the deduction is taken from your income before it is taxed by the government, are those insurance payments still tax deductable?

Medical Expenses tax deductions for Expatriates?

I live overseas permanently, but file US Income Taxes. According to the IRS, I know I can deduct my medical expenses as long as they are 7.5% or more of my gross income. However, can I still do this even though all of my expenses are incurred outside the U.S.?

since i am a full time student and self employed what tax deductions can I recieve….?

Being a full time student and married , husband can’t work do you think I will have to pay anything in…..

PMI tax deductions – are they allowed in 2008?

If I bought a house in 2008 and I paid PMI premiums on my mortgage in 2008, were those premiums tax deductible on my 2008 tax return? Are they also dedcutible in 2009 for the premiums I am paying in 2009? Most articles I read only state that buying a house in 2009-2010 allows for the tax dedcution.

What tax write offs or deductions can I use?

I am a union laborer and travel for work. For example I will be working out of state for three months streight this summer in one location. I live in IL and would like to find a link to know what is available to me. I would like to know amounts deductable for different expenses and such when having to work away from home. My company pays well per hour, but don’t give us much for travel or daily allowences. It would be so helpfull if someone could point me in the right direction.

Tax deductions for new or used cars???????

i want to buy a car, but i don’t know if i want new or used. if i get either one, what’s the procedure in getting tax deduction for new or used? how much would you usually get back or what form should i use for it? please someone help me.

Life Insurance Tax Deductions?

Can anyone explain how a client gets a business owner gets a tax deductions for life insurance premiums? Not as a business expense, but a deduction against their income?
***OK** I think LB06029 is on the right track, but to clarify….. I heard that a business owner can put pre-tax money into a life insurance policy and get a deduction against their income from the business as a result. Meaning, A business owner has an extra 100K from the business, so they put it into a life insurance policy that acts like a pension plan.

Income Tax Deductions New Brunswick?

Hi,

Can anyone tell me the rate of Income Tax deductions in NB Canada? If I earn 0 per week, how much would be deducted?