Specified Service Trade or Business is defined as traditional service professions such as doctors, attorneys, accountants, actuaries and consultants, performing artists who perform on stage or in a studio, paid athletes, professionals in the financial services or brokerage industry and “any trade or business where the principal asset is the reputation or skill” of the owner.

It doesn't seem like it's a big thing in my state outside of athletic events at the pro and college level.

Whippersnappers with their fancy power points.Surprisingly consistent: Over the past 30+ years, the period between a recovery beginning and a bubble popping has run 5 to 7 years.

In 1986 MACRS was eliminated for rental property newly placed in service, and, depreciation for a residential rental property went to a straight line 27.5 year recovery schedule.  

I fixed up a 2600 sq. foot home for my girlfriend/trading partner and we made it through to 2016 when, with the recovery of the R.E.

Louis, MO12.6%http://zillow.mediaroom.com/2016-12-15-More-than-One-in-10-Homeowners-Underwater-as-Housing-Market-Nears-Full-Recovery

The next crash is always, always, always 12-18 months away, due to some very convincing indicators:2013:Denver Post: “Buyers Caught in a Price Squeeze”CNBC: “Housing Market Already Shows Signs of a New Bubble”2014:New York Times: “The Bubble Is Back”Fortune: “Why the Housing Recovery is over, in four charts”2015:CNBC (Again): “Housing today: A ‘bubble larger than 2006’”National Review: “We’ve inflated another bubble; count on the crash.”2016:CNN: “Housing bubble fears have returned”MarketWatch: “The Seeds of the Next Housing Crisis have already been planted”2017:Forbes: “58% of Homeowners Think The Housing Market is Set for a Correction”USA Today: “Hot Housing Market Could Cool in 2018”2018:Bloomberg: “This Rare Bear Who Called the Crash Warns Housing is Too Hot Again”Maybe this time it really is... and maybe there is a massive price drop that will hammer everyone. 

Awesome tools in a recovery

But while the popular wisdom is to look back 5 or so years for an unemployment trend, I also add a 12-year look back to see what happened after 2008 with regards to jobs and recovery.

Kudos to you and cheers to a speedy recovery on your losses.