407,000 firms grossing $13 billion.
By CPA Trendlines
A new snapshot of the tax and accounting profession shows a vast and, in the main, highly profitable industry.
More than 400,00 firms are grossing over $13 billion a year, based on new data reviewed by CPA Trendlines. Altogether, they run a total payroll of $5.4 billion and net $4.6 billion in profits.
But as many as one in five firms have no profits to report.
There were 42,448 CPA firms in 2013, the latest year available, and 364,902 other tax and accounting businesses, according to the data compiled and estimated by the IRS from tax returns. CPA firms took in $4.1 billion in receipts, and the rest of the industry added $9 billion.
The complete set of data, below, reveals details about accounting industry finances and operations.
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