Accounting, Tax Preparation, Bookkeeping & Payroll Services Industry: Statistics, Forecasts, and Company Data
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Market Size and Industry Forecast
The 2023 Accounting, Tax Preparation, Bookkeeping and Payroll Services Industry Report contains historical and forecasted statistics used by leading private equity firms and consultants. Market sizes from 2018 to 2028 reflect industry trends and growth patterns. Revenues include both public and private companies in the accounting, tax preparation, bookkeeping & payroll services industry.
| Historical | Forecasted |
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| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
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Market Size (Total Revenue) | 
|
% Growth Rate |
Number of Companies |
Total Employees |
Average Revenue per Company |
Average Employees per Company |
Source: U.S. government financial data.Industry Revenue ($ Billions)

Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Geographic Breakdown by U.S. State
Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Accounting, Tax Preparation, Bookkeeping & Payroll Services companies in the United States.
Accounting, Tax Preparation, Bookkeeping & Payroll Services Revenue by State

Distribution by Company Size
Company Size | All Industries | Accounting, Tax Preparation, Bookkeeping & Payroll Services |
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Small Business (< 5 Employees) | 
|
Small Business (5 - 20) |
Midsized Business (20 - 100) |
Large Business (100 - 500) |
Enterprise (> 500) |
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Income Statement (Average Financial Metrics)
Financial statement analysis determines averages for the following industry forces:
- Cost of goods sold
- Compensation of officers
- Salaries and wages
- Employee benefit programs
- Rent paid
- Advertising and marketing budgets
The report includes a traditional income statement from an "average" company (both public and private companies included).
| Industry Average | Percent of Sales |
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Total Revenue | 
|
Operating Revenue |
Cost of Goods Sold (COGS) |
Gross Profit |
Operating Expenses |
Operating Income |
Non-Operating Income |
Earnings Before Interest and Taxes (EBIT) |
Interest Expense |
Earnings Before Taxes |
Income Tax |
Net Profit |
Average Income Statement

Cost of Goods Sold
Salaries, Wages, and Benefits
Rent
Advertising
Depreciation and Amortization
Officer Compensation
Net Income
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Financial Ratio Analysis
Financial ratios allow a company's performance to be compared against that of its peers.
Financial Ratio | Industry Average |
---|
Profitability Ratios | 
|
Profit Margin |
ROE |
ROA |
Liquidity Ratios |
Current Ratio |
Quick Ratio |
Activity Ratios |
Average Collection Period |
Asset Turnover Ratio |
Receivables Turnover Ratio |
Inventory Conversion Ratio |
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Product Mix
Product Description | Description | Revenue ($ Millions) |
---|
Industry total | 
|
Payroll services |
Full-service payroll services |
Financial auditing services |
Financial statement auditing |
Tax prep & representative services -individuals & unincorporated bus |
Tax preparation & representative services - corporate & other clients |
Tax planning & consulting services |
Bookkeeping & compilation services |
General accounting services |
Accounting, Tax Preparation, Bookkeeping & Payroll Services - Compensation and Salary Surveys
Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
---|
Management Occupations | 7% | 
|
Chief Executives | 0% |
General and Operations Managers | 2% |
Business and Financial Operations Occupations | 48% |
Financial Specialists | 44% |
Accountants and Auditors | 35% |
Accountants and Auditors | 35% |
Tax Examiners, Collectors and Preparers, and Revenue Agents | 7% |
Tax Preparers | 7% |
Office and Administrative Support Occupations | 35% |
Financial Clerks | 17% |
Bookkeeping, Accounting, and Auditing Clerks | 10% |
Bookkeeping, Accounting, and Auditing Clerks | 10% |
Secretaries and Administrative Assistants | 6% |
Secretaries and Administrative Assistants | 6% |
Secretaries and Administrative Assistants, Except Legal, Medical, and Executive | 5% |
Other Office and Administrative Support Workers | 6% |
Government Contracts
In the past, the federal government spent an annual total of
$1,216,236,330 on the accounting, tax preparation, bookkeeping & payroll services industry. It has awarded 4,772 contracts to 352 companies, with an average value of $3,455,217 per company.
Accounting, Tax Preparation, Bookkeeping & Payroll Services and Adjacent Industries - Top Companies
Company | Address | Revenue ($ Millions) |
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