Americans Spent Record Amounts on Accounting Fees Last Year

(Bloomberg) -- Uncle Sam is getting less after the White House and Congress agreed to cut taxes -- but not the guy with the green eye shade. At least not yet.

Americans spent about $44 billion on accounting, tax preparation, bookkeeping and payroll services in the fourth quarter of 2017 -- about $1 billion higher than a year earlier.

That translates to about $135 per person.

An estimated 65 percent of taxpayers will receive a tax cut in 2018, according to the Tax Policy Center, averaging $2,200 from the new law’s individual provisions.

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