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Is there a group that complains more about government regulation than CPAs, but that benefits more financially from it? That's probably a fair assessment (It's totally mine). But I don't think it's a stretch to say that CPAs as a group are conservative and conservatives on the average aren't fond of regulation. Yet, regulation drives this business and complexity and tax law changes are its life blood.

But even before tax season began, Tom Glocer, CEO of Thomson Reuters, was telling investors that expectation of tax law changed had spurred business by driving tax payers to tax and accounting firms for advice.

So now there are hiring incentives in the jobs bill, likely changes in capital gains tax rates, more jobs bills on the way including proposals for tax cuts for small business along with interest subsidies for constructions bonds. Since this is a Congressional election year, the bills and changes should be flowing freely. Then there's that little issue of the healthcare reform bill

Whatever your opinion of the policies, the next two years ought to be productive for tax and accounting firms. And even if someone succeeds in simplifying the tax law, that in itself is a change that would produce more business in the short term. (I'm not holding my breath on that one)

Anyway you look at it, there's a lot of green in all that red tape.

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