Specified Service Trade Or Business Consulting. Such is the case with the “specified service trade or business” provisions of the new section 199a, qualified business income deduction (or simply “qbid” for short). A specified service trade or business (sstb) is an exchange or business.
Such is the case with the “specified service trade or business” provisions of the new section 199a, qualified business income deduction (or simply “qbid” for short). So, a financial advisor making $150,000 might still enjoy the section 199a deduction. Health, law, and accounting services are defined broadly for specified service trade or business.
Importantly, however, to the extent a taxpayer’s qbi is generated from a specified service trade or business (sstb) a significant limitation may apply.
A specified service trade or business means any trade or business involving the performance of services in the fields of: This section provides guidance on specified service trades or businesses (sstbs) and the trade or business of performing services as an employee.this paragraph describes the effect of a trade or business being an sstb and the trade or business of performing services as an employee. The specified service trade or business problem only comes up when your taxable income exceeds the limits. If applicable, section 199a can lower the maximum effective rate on qualified business income from 37 percent to 29.6 percent.