IN THE NEWS
potential competition for seasonal tax firms is from full-service
accounting firms which might provide other services in addition to
filing tax returns, though most individuals are unlikely to need other
services throughout the year, so this is more of an issue regarding
businesses and higher net worth individuals.
Despite vociferous politicians occasionally clamoring for a flat
tax, income taxes remain as complicated as ever. Because of this
complication, there will always be a demand for tax preparers, even
as computer software becomes more complex and sophisticated.
The industry, including other accounting services, is expected to
grow by 4 percent compounded annually from 2010 to 2015.
Andrew Weber is an Analyst for FranchiseHelp.com and is a graduate
of New York University and New York University School of Law.