The economy pushed revenue down by almost 2 percent for the Bureau of National Affairs for the 24-week period ended June 19. But cost-cutting and a good performance from its software business helped it to an 18-percent rise in net income for the same period.

Wolters Kluwers, parent to CCH, reported a period of flat revenue for the first half ended June 30 with profit down 5 percent over last year’s corresponding half company-wide revenue was about $2.24 billion, virtually unchanged when measured in euros. It Tax and Accounting business did better than the corporate average with revenue up 2.5 percent and EBITA up 1.6 percent. While not spelled out in financial tables, the company had 7 percent organic growth in its core tax market in North America.

Accountants love to talk about S Corporations. It's probably because there are so many of them, especially among the small businesses that are the clients of so many small accounting firms. And right now, proposals that have floated in and out of Congress in extending tax cuts but changing S Corp taxation to help pay for those have part of the profession sitting on the end of its seats, as though it was the second part of a three-part movie series.