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lak_Mass
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I was shocked by impact of saying "Yes" to question on K-1 1120S. "Does this business receive income from specified services". We are law firm -- is yes correct?

 
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I was shocked by impact of saying "Yes" to question on K-1 1120S. "Does this business receive income from specified services". We are law firm -- is yes correct?

"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees." 


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