Congress Passes One Big Beautiful Bill – President to Sign on July 4
Withum
JULY 4, 2025
Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania, voting with the Democrats. Therefore, PTET deductions for both Specified Service Trades or Businesses (SSTBs), such as accounting and law firms, as well as all trades or businesses that utilize the 199A deduction, are allowed to be deducted for federal income tax purposes.
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