Understanding SSTBs: A Guide to Tax Deductions for Service-Based Businesses
What is an SSTB? An SSTB is a business where the main asset is the skills or reputation of its employees or owners. It must be a pass-through entity (such as an LLC, S-Corp, or sole proprietorship) to qualify for a 20% business income deduction under Section 199A of the tax code. This deduction can…