Is their a limit to gross income and mortgage interest tax deduction?

My wife and I will make around 0,000 this year. Is their a limit to gross income and the mortgage interested tax deduction?

I have a child support question regarding tax deduction?

I would like to know why the government do not allow tax deduction or tax credit for those paying child support, But on the other hand gives a child tax credit to the custiodal parent? I think child support was just a way to correct a government policy that went wrong. You promises theses single mothers theses government programs and now that the government can not afford it, lets deduct the standard of living for some else. That is probably the reason we are continuing to have the pro-life versus the pro-choice debate, because some appointed officals decided on a social policy that was taken out of the democratic processes. Also, why is child support gender base? Why do a judge makes the assumption that it is in the best interest of the child to be with the mother, where was this research perform to give this basis? Also, where in the constitution that gives the government the right to throw you in jail if you can not pay a debt, that is not a tax? Just my opinion.

Is there a limit on the age of the SUV for the Section 179 tax deduction for small businesses?

I understand the basics of this tax deduction and that you can deduct the value of the SUV/Truck up to ,000 and that the GVW has to be over 6000lbs, however, is there an age limit to how old this vehicle can be to qualify for the full tax advantage?

Is it smarter to get married for tax purposes or stay single?

My girlfriend and I just found out that she is due in Feb. 2010. We wanted to know if we would get a bigger tax deduction as a married couple or if we were to both stay single and file? Does the government give bigger deductions to single or married parents?

Tax deduction on Educational loan to a friend?

One of my friends is doing his Masters in US. I was planning to lend him some money to pay his fees. He also plans to return the money after he graduates with an interest rate. But I have some questions about that. Will I be eligible for tax deduction on the money I lend him? Is the interest that he pays to me taxable? If so, what kind of document do I need to show my interest income from my friend? Are there any other complications that I should be aware of? Any do’s or don’ts?

Why is it immoral to donate to charity with the sole motive to receive a tax deduction?

I’m writing a morality paper and need some support for why it’s immoral to only donate to charity because you want to get the tax deduction.

THANKS!

Is there a special tax deduction for new cars purchased in 2009?

I purchased a new Malibu on December 30, 2009. Was there a special government incentive that involved a tax deduction?

If I donate 5400. to my local charity in new york, how much of a tax deduction will I get?

If I donate 5400. to my local charity, how much of a tax deduction will I get?
How much should I expect to get from a tax deduction?
Its in the united states in New York state
I make 1800 gross per month or 21600 per year.

No rental income this year, will I still be able to claim repair cost for tax deduction?

I bought a rental condo (foreclosed property) in October, 2009 and will spend November and December to fix it up, so basically I don’t have any rental income this year. I wonder if I am able to claim the repair cost (~,000) for tax deduction.

What is the better tax decision on rental real estate property?

Last year I was able to tax a ,000 tax deduction for interest, principle, and insurance on my taxes and received a decent tax credit. I am renting my property out and will incure a loss of about 0 per month and a depreciation amount of 0 per month for a total of ,800 for the year. Will my tax credit be better or worse? I am ignorant as to how the regular deductions are taken vs. a loss of income? Thanks for the help!