National Association of Tax Professionals releases 2023 Fee Study
The National Association of Tax Professionals (NATP) released its highly anticipated 2023 Fee Study, providing key data for tax firm owners to assist with pricing and structuring their business.
The study, based on information gathered from members across the country, offers insights into how firms structure their pricing, including per-form, per-hour and other methods.
Additionally, it includes data on tax office staffing, when the majority of revenue is earned, the most profitable services, types of payments accepted and the frequency of fee increases.
Tom O'Saben, director of Tax Content and Government Relations at NATP, emphasizes the significance of the study.
"This study provides tax pros with a benchmark of not only what to charge their clients for returns, but also a feeling of where they might stand in a marketplace, regionally and nationally," O'Saben said.
In addition to pricing information, the study also sheds light on other aspects of the tax preparation industry. Jennifer Van Elzen, the director of Member Relations and Analytics at NATP, highlights the importance of these insights, stating, "It's also interesting to see things that aren't directly connected to fees like size of practice, how employees are trained and marketing efforts. It's a great snapshot of general practice in the tax preparation community at this very moment."
NATP has been conducting fee studies since the early 2000s, continuously incorporating current trends and expanding the scope of details. This year's study includes key findings such as tax professionals increasing their pricing across the board.
Additionally, it provides valuable business information, including average salary rates, staff count and types of staff. NATP members have exclusive access to this comprehensive study to give their firm a competitive advantage.
The National Association of Tax Professionals (NATP) is the largest nonprofit organization that works exclusively for tax professionals. We serve members through education, advocacy and community, providing the tools they need to navigate the tax code and the insights the media can trust.
Looking for a tax expert? Tom O’Saben, EA, director of tax content and government relations at NATP, is available for phone or video interviews to discuss federal tax topics, including tax law change and its implications, taxpayer issues, tax preparer regulation and more. To schedule an interview with O’Saben, contact [email protected] or [email protected].