Is there a way to write off operating expenses for investment property?
The reasons their write-offs are (supposedly) limited may have little to do with their income and more with the way in which they are writing off the property. Creating an LLC or corporation to own (not just to manage) the property is usually a better idea as another shield of protection against personal liability.
Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.