In today's fast-paced and ever-evolving financial landscape, tax preparation companies play a crucial role in helping individuals and businesses navigate the complexities of tax compliance. These companies offer a range of services, from basic tax filing to comprehensive tax planning and advisory services. As a SaaS company that aggregates private company data, we have curated a list of the largest tax preparation companies in the industry. This list serves as a valuable resource for anyone looking to understand the key players in this essential sector. Following the list, we will delve into the beneficial impact these companies have on the economy, the challenges they face, and conclude with some final thoughts on the future of tax preparation services.
Top 15 Tax Preparation Companies in the USA
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1. KSM Business Services, Inc. dba Katz Sapper and Miller, LLP
- Informal Name: Katz Sapper and Miller
- Founding Year: 1942
- City: Indianapolis
- State: IN
- Website: https://www.ksmcpa.com
- Description: KSM Business Services, Inc. doing business as Katz, Sapper and Miller, LLP provides accounting, auditing, tax, and consulting services. The company offers internal control assessments, accounting system reviews, tax preparation and planning, payroll, financing assistance, mergers and acquisitions, cash management, business valuation, and technology consulting services. It caters to the construction, litigation support, manufacturing, not-for-profit, real estate, and trucking industries.
- LinkedIn Account: https://www.linkedin.com/company/katz-sapper-&-miller
- Employee Count: 615
- 3 Months Growth Rate: 13.3%
- Latest Estimated Revenue Min: $25,094,306
- Latest Estimated Revenue Max: $502,000,000
2. Grassi and Co., CPAs, P.C.
- Informal Name: Grassi
- Founding Year: 1980
- City: Jericho
- State: NY
- Website: https://www.grassicpas.com
- Description: Grassi and Co., CPAs, P.C. is a provider of accounting and auditing services. It offers auditing and accounting, tax planning and preparation, personal financial planning, financial assistance, business planning, IT and human resources consulting, and litigation services. The company provides services to industries, banks and sureties, law firms, other accounting firms, and municipalities.
- LinkedIn Account: https://www.linkedin.com/company/grassi-&-co-
- Employee Count: 481
- 3 Months Growth Rate: 1.27%
- Latest Estimated Revenue Min: $8,562,491
- Latest Estimated Revenue Max: $171,000,000
3. Carr, Riggs & Ingram CPA and Advisors, LLC (CRICPA)
- Informal Name: CRICPA
- Founding Year: 1997
- City: Enterprise
- State: AL
- Website: https://cricpa.com
- Description: Carr, Riggs & Ingram CPA and Advisors, LLC (CRICPA) is an accounting company. It provides accounting outsourcing, financial statement preparation, internal auditing, and tax planning and advisory services. The company serves customers in the United States.
- LinkedIn Account: https://www.linkedin.com/company/cricpa
- Employee Count: 1992
- 3 Months Growth Rate: 2.72%
- Latest Estimated Revenue Min: $7,325,000
- Latest Estimated Revenue Max: $147,000,000
4. Elliott Davis, LLC
- Informal Name: Elliott Davis
- Founding Year: 1920
- City: Greenville
- State: SC
- Website: https://www.elliottdavis.com
- Description: Elliott Davis, LLC is a business solutions firm offering a full spectrum of services in the areas of tax, comprehensive assurance, and consulting services to diverse businesses, organizations, and individuals. It offers services in areas that include assurance, corporate tax compliance, transaction advisory, business growth strategies, risk management, cybersecurity, transfer pricing, and valuation services. It markets its products and services throughout the country.
- LinkedIn Account: https://www.linkedin.com/company/elliott-davis-llc
- Employee Count: 999
- 3 Months Growth Rate: 6.21%
- Latest Estimated Revenue Min: $40,762,946
- Latest Estimated Revenue Max: $815,000,000
5. Aprio Wealth Management, LLC
- Informal Name: Aprio
- Founding Year: 1952
- City: Atlanta
- State: GA
- Website: https://www.aprio.com
- Description: Aprio, LLP is a management consulting company. It offers risk advisory, forensic litigations, business valuations, financial and estate planning, tax planning and consulting, corporate tax return preparation, cost segregation, and mergers and acquisitions advisory services. The company serves entrepreneurs, businesses, investors, and families.
- LinkedIn Account: https://www.linkedin.com/company/aprio
- Employee Count: 1976
- 3 Months Growth Rate: 1.61%
- Latest Estimated Revenue Min: $8,400,315
- Latest Estimated Revenue Max: $168,000,000
6. Entigrity Solutions, LLC
- Informal Name: Entigrity Solutions
- Founding Year: 2015
- City: Sugar Land
- State: TX
- Website: https://www.entigrity.com
- Description: Entigrity Solutions, LLC is an offshore staffing solutions company. It provides staffing solutions to small and mid-sized accounting businesses. It offers offshore staffing for various functions, including tax preparations, payroll, accounting & bookkeeping, audit, state taxes, administration, and billing work. The company serves its services to accounting and tax firms across North America and the United Kingdom.
- LinkedIn Account: https://www.linkedin.com/company/entigrity
- Employee Count: 1363
- 3 Months Growth Rate: 4.01%
- Latest Estimated Revenue Min: $8,274,396
- Latest Estimated Revenue Max: $165,000,000
7. Lattimore Black Morgan and Cain, PC (LBMC)
- Informal Name: LBMC
- Founding Year: 1984
- City: Brentwood
- State: TN
- Website: https://www.lbmc.com
- Description: Lattimore Black Morgan and Cain, PC (LBMC) is an accounting company. It offers accounting, tax, audit, advisory, human resources, staffing, security, and technology services. Its tax return preparation, assurance, due diligence, auditing, sales and use tax review, litigation support, business valuation, and succession and estate planning services. Its investment advisory, bill payment, transaction processing, and financial reports preparation services. It provides accounting services to the healthcare industry. The company serves its services to clients worldwide.
- LinkedIn Account: https://www.linkedin.com/company/lbmc
- Employee Count: 703
- 3 Months Growth Rate: 7.82%
- Latest Estimated Revenue Min: $12,200,000
- Latest Estimated Revenue Max: $244,000,000
8. Total Administrative Services Corp. (TASC)
- Informal Name: TASC
- Founding Year: 1975
- City: Madison
- State: WI
- Website: https://www.tasconline.com
- Description: Total Administrative Services Corp. (TASC) is a nationwide administrator of tax-advantaged health benefits plans. Its offerings include Benefits Account Management (FlexSystem FSA, Funded HRA, GiveBack, HRA, HSA, PayPath, Premium Only Plan, Transit and Parking), Continuation (COBRA, FMLA, Retiree Billing), and Compliance (ACA Employer Reporting, ERISA, Form 5500 Preparation, HIPAA Compliance, Medicare Part D, Non-Discrimination Testing, PCORI) services. The company provides services for clients, participants, and providers and serves companies ranging in size from one employee to thousands.
- LinkedIn Account: https://www.linkedin.com/company/tasconline
- Employee Count: 679
- 3 Months Growth Rate: 0.44%
- Latest Estimated Revenue Min: $7,462,406
- Latest Estimated Revenue Max: $149,000,000
9. RKL, LLP
- Informal Name: RKL
- Founding Year: 1979
- City: Lancaster
- State: PA
- Website: https://www.rklcpa.com
- Description: RKL, LLP is an accounting and consulting company that specializes in accounting, auditing, tax preparation and planning, and payroll services. The company provides estate planning, mergers and acquisitions advice, business valuations, litigation support, and strategic advice. It serves customers in the United States.
- LinkedIn Account: https://www.linkedin.com/company/rklllp
- Employee Count: 551
- 3 Months Growth Rate: 3.36%
- Latest Estimated Revenue Min: $12,200,000
- Latest Estimated Revenue Max: $244,000,000
10. Prager Metis CPAs and Prager Metis International, LLC
- Informal Name: Prager Metis CPAs and Prager Metis International
- Founding Year: 2013
- City: New York City
- State: NY
- Website: https://pragermetis.com
- Description: Prager Metis CPAs and Prager Metis International, LLC is a public accounting and consulting firm. It offers bookkeeping, auditing, business and cash flow management, internal controls analysis, outsourced accounting, property tax preparation, comprehensive tax planning, real property investment structuring, and tax consulting services. It serves businesses and consumers in the area.
- LinkedIn Account: https://www.linkedin.com/company/pragermetiscpas
- Employee Count: 471
- 3 Months Growth Rate: 0.65%
- Latest Estimated Revenue Min: $12,399,975
- Latest Estimated Revenue Max: $248,000,000
11. SmallBizPros, Inc. dba Padgett Business Services
- Informal Name: Padgett Business Services
- Founding Year: 1965
- City: Athens
- State: GA
- Website: https://www.padgettadvisors.com
- Description: SmallBizPros, Inc. doing business as Padgett Business Services is an accounting company. It provides business tax and advisory services, such as tax planning and preparation, government compliance, and financial, and payroll. It offers its services to small businesses across the U.S. and Canada.
- LinkedIn Account: https://www.linkedin.com/company/padgett%2dbusiness-services
- Employee Count: 569
- 3 Months Growth Rate: -0.52%
- Latest Estimated Revenue Min: $8,550,000
- Latest Estimated Revenue Max: $171,000,000
12. HC Global Fund Services, LLC
- Informal Name: HC Global Fund Services
- Founding Year: 2008
- City: San Francisco
- State: CA
- Website: https://www.hcglobalfs.com
- Description: HC Global Fund Services, LLC is a financial services company. It offers fund administration, tax planning, and consulting services. The company provides operational due diligence, financial statement preparation, shadow accounting, tax return preparation, monthly cash reconciliation, investor relations, and cash management control services. It caters to hedge funds, funds of funds, real estate funds, venture capital funds, private equity funds, family office funds, and alternative vehicles. The company provides its services to customers across the United States.
- LinkedIn Account: https://www.linkedin.com/company/hc-global-fund-services-llc
- Employee Count: 444
- 3 Months Growth Rate: 0.92%
- Latest Estimated Revenue Min: $5,900,000
- Latest Estimated Revenue Max: $118,000,000
13. Security Finance Corp.
- Informal Name: Security Finance
- Founding Year: 1955
- City: Spartanburg
- State: SC
- Website: https://www.securityfinance.com
- Description: Security Finance Corp. is a financial service firm. It offers loans and tax preparation services. The firm provides its products and services to businesses and individuals.
- LinkedIn Account: https://www.linkedin.com/company/security-finance
- Employee Count: 1420
- 3 Months Growth Rate: 1.22%
- Latest Estimated Revenue Min: $9,973,872
- Latest Estimated Revenue Max: $199,000,000
14. HG&K, Ltd.
- Informal Name: HG&K
- Founding Year: 1966
- City: Edina
- State: MO
- Website: https://www.hgkltd.cpa
- Description: HG&K, Ltd. is a full-service accounting and advisory firm. It specializes in providing Financial administration, Tax advice and returns, Payroll administration, Annual accounts, and Financial and strategic advice. The company offers particular strengths in the construction, real estate, manufacturing, and professional services industries, as well as non-profit and homeowners’ associations.
- LinkedIn Account: Not provided
- Employee Count: 409
- 3 Months Growth Rate: Not provided
- Latest Estimated Revenue Min: $6,375,000
- Latest Estimated Revenue Max: $128,000,000
15. Dataday Tax Services, Inc.
- Informal Name: Dataday Tax Services
- Founding Year: 2007
- City: Covington
- State: GA
- Website: https://datadaytax.com
- Description: Dataday Tax Services, Inc. is a financial management company. The company specializes in complete and accurate tax preparation services for a wide variety of clients. It markets its services to clients globally.
- LinkedIn Account: Not provided
- Employee Count: 720
- 3 Months Growth Rate: Not provided
- Latest Estimated Revenue Min: $8,375,000
- Latest Estimated Revenue Max: $168,000,000
Beneficial Impact on the Economy
Tax preparation companies contribute significantly to the economy in several ways. Firstly, they provide employment opportunities for thousands of professionals, including tax preparers, accountants, and administrative staff. This not only helps reduce unemployment rates but also contributes to the overall economic growth by increasing consumer spending.
Secondly, these companies play a vital role in ensuring tax compliance, which is crucial for the functioning of any economy. By helping individuals and businesses accurately file their taxes, they ensure that governments receive the necessary revenue to fund public services and infrastructure projects. This, in turn, leads to improved public services, better infrastructure, and a higher quality of life for citizens.
Moreover, tax preparation companies offer advisory services that help businesses optimize their tax strategies. This can result in significant cost savings for businesses, allowing them to reinvest in their operations, expand their workforce, and contribute to economic growth. For small businesses, in particular, these services can be invaluable, as they often lack the in-house expertise to navigate complex tax regulations.
Additionally, tax preparation companies often engage in community outreach and education programs. By offering free tax preparation services to low-income individuals and conducting workshops on financial literacy, they help improve the financial well-being of underserved communities. This not only fosters economic inclusivity but also empowers individuals to make informed financial decisions.
Challenges Faced by Tax Preparation Companies
Despite their significant contributions, tax preparation companies face several challenges that can impact their operations and growth. One of the primary challenges is the ever-changing tax laws and regulations. Governments frequently update tax codes, introduce new regulations, and modify existing ones. Keeping up with these changes requires continuous education and training for tax professionals, which can be both time-consuming and costly.
Another challenge is the increasing competition in the industry. With the rise of digital tax preparation software and online platforms, traditional tax preparation companies face stiff competition. These digital solutions often offer lower prices and greater convenience, making it difficult for traditional companies to retain their client base. To stay competitive, tax preparation companies must invest in technology and innovation, which can be a significant financial burden.
Data security is another critical concern for tax preparation companies. Handling sensitive financial information makes them prime targets for cyberattacks and data breaches. Ensuring robust cybersecurity measures and complying with data protection regulations is essential but can be challenging and expensive.
Furthermore, the seasonal nature of the tax preparation business poses operational challenges. The demand for tax preparation services peaks during the tax filing season, leading to a surge in workload and the need for temporary staffing. Managing this seasonal fluctuation while maintaining high service quality can be a daunting task.
Lastly, the COVID-19 pandemic has introduced new challenges, such as remote work and virtual consultations. While some companies have adapted well to these changes, others have struggled to transition their operations online. The pandemic has also led to economic uncertainty, affecting the financial stability of both tax preparation companies and their clients.
Conclusion
Tax preparation companies are indispensable to the functioning of modern economies. They provide essential services that ensure tax compliance, contribute to economic growth, and support community development. However, they also face numerous challenges, including regulatory changes, competition, data security concerns, and operational hurdles. As the industry continues to evolve, tax preparation companies must adapt to new technologies, invest in continuous education, and implement robust cybersecurity measures to stay competitive and secure.
In conclusion, the tax preparation industry is a dynamic and vital sector that plays a crucial role in the economic ecosystem. By understanding the key players, their contributions, and the challenges they face, stakeholders can better appreciate the importance of this industry and support its continued growth and innovation.
Find More Private Companies in This Sector or One of Your Choice
Reach out to our team today for a free custom list of private companies — Submit a Request.
