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Tax Preparation Software Developers in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Preparation Software Developers Market Research Report | Technology | Business Productivity Software | Aug 2012

Tax time: As incomes, households and computer use rise, demand will increase

IBISWorld’s Tax Preparation Software Developers market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
H&R Block Inc. H&R Block Inc. market share
Intuit Intuit market share
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 07-12
0.1%
Annual Growth 12-17
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Profit
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Employment
4,342
Businesses
48
Industry Analysis & Industry Trends

The Tax Preparation Software Developers industry experienced minimal overall growth over the past five years. When consumer incomes fell during the recession, they became less willing to pay for tax preparation software, and industry revenue fell in 2008 and 2009. But then revenue returned to growth as the economy stabilized thereafter. Growth in the next five years will come from an expanding consumer base and greater trust consumers will place in the security of tax preparation software. To a lesser extent, improving consumer incomes will encourage more consumers to pay for prepackaged tax preparation software over free online counterparts.... purchase to read more

Industry Report - Industry Investment Chapter

The Tax Preparation Software Developers industry exhibits a low level of capital intensity. Using wages as a proxy for labor and depreciation as a proxy for capital, IBISWorld estimates that for every dollar spent on labor in 2012, $0.10 will be spent on capital. Capital investment in the industry primarily consists of computers and peripheral equipment and office space. Firms place a premium on attracting highly-skilled employees since good software is dependent on the developers who create it. This translates into a very high average wage in the industry, as firms compete for a limited supply of skilled developers... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tax Preparation Software Developers Industry?

This industry provides software, usually hosted online, that allows individuals to file federal and state tax returns. The software is designed to guide users through their tax returns step-by-step. Additionally, firms in the industry provide high-end software to tax preparation professionals and small businesses. This industry does not include tax planning software.

Industry Products
Consumer federal tax softwareConsumer state tax softwareSmall business tax preparation softwareProfessional tax preparation software
 
Industry Activities
Providing federal income tax preparation softwareProviding state income tax preparation softwareProviding small business tax preparation softwareProviding professional tax preparation software


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