Industry Analysis & Industry Trends
Demand for tax preparation services has been restrained over the five years to 2014 due to falls in employment and income levels. In addition, consumers have opted to do their own taxes to save money, using a growing number of free options and at-home software products. While employment and income levels are forecast to pick up and stimulate industry demand, tax preparers will still face strong competition. Nonetheless, an expansion of industry services will lead to modest revenue growth... purchase to read more
Industry Report - Industry Locations Chapter
Households in all socioeconomic groups across the United States use the services of tax preparers. Consequently, industry establishments and revenue are distributed in line with regional population. Many people use the closest tax preparation firm out of convenience. When an area is underserved, more firms move into that area to stake a claim in the market. Similarly, firms tend to move locations when competition is too high and profit margins begin to suffer.
About 85.1% of operators in this industry are non-employers that do not have the capacity or market power to provide services beyond their own neighborhood. While some of these firms are part of a national network, they primarily serve local consumers... purchase to read more