Intuit Accountants recently conducted its Survey of Tax Planning and Advisory Opinions. Intuit Accountants commissioned an industry-wide survey of 786 tax professionals, who are currently providing tax planning services or planning to provide tax planning services over the next two years, to understand the landscape around tax planning and advisory services.
This survey provides benchmarks that tax professionals can use to compare, and potentially increase, their tax advisory services to help clients and businesses prosper.
Important information from the survey results includes:
- Respondents indicated that tax planning and advisory services have significantly higher fees than compliance services, with an average fee of $ 2,351 per client.
- Tax planning and advisory fees, on average, are 5 times higher than tax preparation fees.
- 74% of tax firms surveyed provide tax planning services, but only 62% are paid for these services.
- 18% of tax advisers say they run tax planning and advisory services.
- 1 in 3 preparers who do not currently offer tax advisory services are strongly considering adding them.
“We are seeing a growing gap in the profession between firms that lead traditional tax preparation and compliance services and those that lead proactive tax planning and advisory services,” said Barry Pennett, senior vice president and Managing Director of Intuit ProConnect Group. “Businesses that communicate estimated tax savings through appropriate strategies are better able to help clients meet their short and long term financial goals, as well as monetize these services. “
Tax planning and advisory services are an important extension of tax compliance services. The avalanche of new tax laws over the past five years and the impact of the pandemic on businesses and customers have increased the need for these services. This survey shares the perspectives of tax professionals who see changes in real time.
To learn more about advisory services beyond the report, visit The path to counseling, a complete and free online guide available through the Intuit ProConnect Tax Center to help companies lead with planning and consulting services. Using the collective knowledge, experience, tools, and best practices of Intuit Tax Advisory Members, this guide offers clear and achievable steps for businesses looking to add advisory services or businesses already in the process of developing. to change.