Page 6 - 2017 UFSTSG Investment Pres
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WHY THE TAX INDUSTRY?
Tax preparation is BIG business – The industry grew over 2% from 2010-2015, and is expected to
speed up the pace of growth. Revenues of $25 billion are forecast for 2018. Tax preparation is
unusual in that it provides a service to assist with a process that legally every American is
required to do: submit an income tax return. There were plenty of tax returns to go around – the
IRS estimates that there will be over 250 million filed by 2018. Because it is required, tax
preparation tends to be recession resistant.
150 Million tax returns filed each year
$19 Billion spent each year on tax preparation
61% of returns (78 Million) prepared by assisted category
65% of all independent tax business owners work from home
The Industry, including other accounting services, is expected to grow by 4 percent per year
through at least 2019.
