What is the Tax Preparation Franchises industry?
Tax preparation franchises operate at a low capital intensity level. The industry is highly labour-intensive as a large amount of work must be completed manually, such as the assessment of tax deductible items and preparation of tax lodgements. Employees in the industry generally require an understanding of tax law and accounting standards as this knowledge requirement represents a significant item of expense for wages. In 2015-16, wages are expected to account for 52.5% of industry revenue. Used as a proxy for capital, depreciation is estimated to account for 2.0% of industry revenue for the year.
Overall, IBISWorld expects that of every dollar required for wages in 2015-16, approximately $0.04 will be invested in computers and other capital equipment... purchase to read more