Finance

Top 10 Best Tax Preparation Companies

Best and demanding tax preparation companies will be discussed in this article. Over 300,000 individuals are employed globally over 109,000 enterprises in the top 10 tax preparation companies, which are part of a rapidly expanding industry. Over the past five years, the tax preparation sector as a whole has grown by 2%, with the largest tax firms in the globe driving the majority of this growth through year-over-year gains in tax revenues generated.

This data sheet is intended to help businesspeople, investors, and regular readers who are interested in learning more about the global tax industry.

  • How big is the market for tax preparation services?
  • A comprehensive list of the biggest tax firms in the globe.

Which tax preparation service is the best?

  • Industry Analysis for Tax Preparation in 2020
  • Use BizVibe to connect with the biggest tax businesses in the globe.

The leading tax preparation companies are already connecting thanks to BizVibe. Connect with these companies and keep up with their most recent news and insights.

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Industry Analysis for Tax Preparation in 2020

  • The tax preparation market is expected to be worth USD 11.5 billion in 2020.
  • In 2020, it is anticipated that the market for tax preparation services will grow by 1.3%.
  • Between 2015 and 2020, the market size for tax preparation services in the US increased 2.7% year on average.

Top 10 Best Tax Preparation Companies in 2022

Top 10 Best Tax Preparation Companies are explained here.

In order to compete with tax preparation software like Turbo Tax, the top 10 tax preparation firms in the world are moving to a new era of online services. These firms have dominated the market for decades. The top tax firms in the world according to BizVibe’s list for 2020, which takes into account brand strength, revenue, and tax revenue.

1. H&R & Block

H&R & Block

The biggest tax company in the world in 2020 is H&R Block. The business is an American tax preparation firm with operations in Australia, India, Canada, and the US. With 12,000 sites across the globe, H&R Block was founded in 1955 and is staffed by qualified tax accountants. Consumer tax software, online tax preparation, & electronic tax filing via their website are among H&R Block’s primary services. The business also provides payroll and business consulting services. One of the largest tax advisory organisations in the world, the company’s sales last year was $3.01 billion USD. The business generated USD 2.9 billion in revenue from tax services last year, making it the largest tax preparation business worldwide in terms of this source of tax. This is another tax preparation companies. Also check tax preparation services

  • Dated: 1955
  • H&R Block’s main office is in Kansas City, Missouri.
  • H&R Block: $3.01 billion in revenue
  • H&R Block has 90,700 employees.
  • Tax Products and Services from H&R Block
  • Tax Preparation
  • Commercial Services

2. PwC

PwC

This is another tax preparation companies. PricewaterhouseCoopers, commonly abbreviated as PwC, is a worldwide professional services network of businesses with its headquarters in London, United Kingdom. It comes in second on our list of the top 10 tax preparation firms in 2020. Along with KPMG, Deloitte, and EY, PwC is regarded as one of the “big four” accounting firms and offers more than simply tax preparation services. PwC has 742 offices worldwide with qualified tax accountants in more than 157 nations. One of the leading auditing corporations in the earth, PwC earned USD 42.4 billion in revenue last year. Taxes contributed to the company’s gross income of USD 2.41 billion last year.

  • Established: 1998
  • PwC Block Head Office: London, United Kingdom
  • PwC Block: $42.4 billion in revenue
  • PwC Block Employment Number: 276,000

Tax Products and Services from PwC

  • Assurance
  • Advisory
  • Tax Advice
  • Tax Disputation

Consultations on strategy

  • Analytical Data
  • Management Advisory
  • Financial Consulting
  • Actuarial
  • Legal

3. Deloitte

Deloitte

Deloitte is ranked third among the top 10 tax preparation firms in the globe on this ranking. One of the biggest tax businesses in the world, Deloitte is a multinational professional services network that generated 21% of its total revenue from taxes in the previous fiscal year. The company’s tax revenue increased by 2.01% last year. Deloitte was one of the largest auditing and tax organisations in the world by total revenue last year, bringing in USD 46.2 billion. This is another tax preparation companies.

  • Dated: 1845
  • London, UK is home to the Deloitte Industries headquarters.
  • Total Revenue for Deloitte Industries: $46.2 billion
  • Deloitte Industries has 312,000 employees.
  • Deloitte Tax Products and Services
  • Audit
  • Management advice
  • Financial guidance
  • Risk guidance
  • Tax
  • Legal

4. Ernst & Young

Ernst & Young

The international professional services company Ernst & Young, with its headquarters in London, England, United Kingdom, is fourth on our list of the leading 10 tax preparation businesses. One of the big 4 accounting firms in the world, Ernst & Young—often abbreviated as EY—is also a top choice for tax preparation services. The business made USD 36.4 billion in total revenue last year, or USD 2.27 in gross revenue, from its tax revenue sources. EY ranked as the seventh-largest privately held company in the USA in 2019. EY is frequently rated as one of the top tax firms to work for by Fortune Magazine.

  • Dated: 1898
  • EY Industries’ main office is in London, UK.
  • EY Industries generated $36.4 billion in total revenue.
  • EY Industries has 270,000 employees.

EY Tax Products and Services

  • Assurance
  • Tax Advice
  • Digital Marketing
  • Consulting
  • Financial Consulting
  • Legal

5. KPMG

KPMG

Another of the big four estimation firms, KPMG, is ranked fifth on our list of the biggest tax businesses in the world. With operations in 147 countries, over 219,000 personnel, and three service lines—financial audit, tax, and advisory—KPMG is a global professional services network. The business earned USD 29.75 billion in annual revenues in 2019 and made USD 1.27 billion in gross income from its tax services. This is another tax preparation companies. Also check cryptocurrency taxes

  • Established: 1987

Amstelveen, Netherlands is home to the KPMG Industries headquarters.

  • Total Revenue for KPMG Industries: US$29.75 billion
  • KPMG Industries has 219,281 employees.

Tax Products and Services from KPMG

  • Actuarial
  • Assurance
  • Tax, legal, and financial guidance
  • Consulting

6. RSM US

RSM US

This is another tax preparation companies. As a part of the international accounting network RSM International, RSM US is an audit, tax, and consulting organisation with a concentration on the middle market in the United States. The sixth-largest tax consulting firm in the world, RSM US, brings in USD 475.51 million from its tax practise. The company’s global segment generated $5.74 billion in total revenue last year.

  • Dated: 1964

Headquarters for RSM US Industries are in London, United Kingdom.

  • 5.74 billion USD in total revenue for RSM US Industries.
  • RSM US Industries has 43,000 employees.

RSM US Tax Products and Services

  • Assurance
  • Tax Advice
  • Consulting
  • Financial Consulting

7. Franchise Group, Inc

Franchise Group, Inc

The business, which was formerly known as Liberty Tax Service and is still using that name for some of its tax services, changed its name to Franchise Group, Inc. formally in 2019. The company, which has its headquarters in Virginia Beach, generated USD 291.69 million in income from tax services. Franchise Group ranked seventh on this list of the top 10 tax preparation companies in the world in 2020 with global revenues of USD 2.4 billion, making it one of the biggest tax preparation companies in the world. This is another tax preparation companies.

  • Established: 1997
  • Franchise Group Industries’ main office is in Virginia Beach, USA

Total revenue for the franchise group industries is USD 2.4 billion.

Group Tax Franchise Products and Services

  • Tax preparation
  • Courses in tax preparation
  • Common retail

8. Ryan LLC

Ryan LLC

This is another tax preparation companies. Dallas, Texas-based Ryan LLC is a tax preparation business. Last year, the company’s tax practise brought in USD 216.5 million, an increase in tax revenue of 9.07 percent. In total, the business earned USD 500 million last year from all of its services.

  • Dated: 1964

The headquarters of Ryan Industries are in Dallas, Texas.

  • Ryan Industries generated $5.74 billion in total revenue.
  • Ryan Industries has 43,000 employees.

9. Jackson Hewitt Tax Services

Jackson Hewitt Tax Services

Over 2 million federal, state, and local income tax returns are prepared by Jackson Hewitt, the second-largest tax preparation business in the US, each year. The business, which has its headquarters in Jersey City, New Jersey, produced tax income of USD 213.8 million last year. This is another tax preparation companies. Also check Best tax preparers

  • Dated: 1982
  • Jersey City, New Jersey, USA serves as the home office of Jackson Hewitt.
  • Total Revenue for Jackson Hewitt: USD 213.8 million

Tax Services and Products from Jackson Hewitt

  • Money-related services
  • Tax preparation
  • Loans for refund anticipation
  • Franchises

10. BDO USA, LLP

BDO USA, LLP

BDO USA, a global accounting network with its headquarters in Chicago, completes BizVibe’s ranking of the top 10 tax preparation businesses in the globe in 2020. 34% of the company’s whole revenue last year, or $499.8 million, came from tax receipts. Tax revenue for the business increased by +4.26% over the previous year. The business presently has 6,592 tax experts working in over 61 tax locations. This is another tax preparation companies.

  • Dated: 1910
  • BDO USA’s main office is in Chicago, Illinois
  • BDO USA’s overall sales were $1.64 billion.
  • BDO USA has 7,330 employees.

The top 10 tax preparation firms worldwide, according to tax revenues, popularity, and brand strength in 2020, are listed below by BizVibe. Despite the widespread use of tax preparation software, the greatest tax firms in the world have led the way for a sector where tax revenues are increasing year over year.

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Largest Tax Firms in the World by Tax Revenue

The top 10 tax preparation firms are listed below in full order based solely on their tax collections from the previous year.

  • With USD 2.9 billion in tax income, H&R Block is the biggest tax preparation company in the world.

Future Prospects for the Tax Preparation Sector

In the tax preparation market beyond 2020, tax preparation software like Turbo Tax and Quicken will be the primary rivals. To combat this competition from software, tax preparation businesses have shifted to offering their services online as well. Despite more people completing their taxes on their own, the industry has so far continued to expand. In the end, you can count on the top 10 tax preparation firms to keep providing top-notch services and driving innovation in the sector.

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