Tax Planning Software Market

The global Tax Planning Software market was valued at USD 578 million in 2023 and is projected to reach USD 784 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period (2024-2030).

The U.S. Market is Estimated at $ Million in 2023, While China is to reach $ Million.

Cloud-based Segment to Reach $ Million by 2030, with a % CAGR in next six years.

The global key manufacturers of Tax Planning Software include Corvee, Drake Software, Intuit, TaxPlanIQ, Tax Planner Pro, Wolters Kluwer, Holistiplan, CFS Tax Software and Bonsai Technologies, etc. in 2023, the global top five players have a share approximately % in terms of revenue.

Tax Planning Software Market aims to provide a comprehensive presentation of the global market for Tax Planning Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Tax Planning Software. Tax Planning Software Market contains market size and forecasts of Tax Planning Software in global, including the following market information:

• Global Tax Planning Software Market Revenue, 2019-2024, 2025-2030, ($ millions)
• Global top five companies in 2023 (%)

Tax planning software has become an essential tool for individuals and businesses aiming to optimize their tax situations. 

Adoption Rate:

• Businesses: Approximately 70% of small to medium-sized businesses use tax planning software to streamline their tax processes and ensure compliance.
• Individuals: Around 45% of individual taxpayers in the U.S. utilize tax planning software, a number that has steadily increased over the past five years.

User Satisfaction:

• Overall Satisfaction: A significant 85% of users report high satisfaction with their tax planning software, citing ease of use, accuracy, and time savings as primary benefits.
• Recommendation Rate: 78% of users are likely to recommend their tax planning software to others, indicating strong brand loyalty and positive user experience.

Time Savings:

• Businesses: On average, businesses report a 30% reduction in time spent on tax preparation and filing compared to traditional methods.
• Individuals: Individual users experience a 25% reduction in time spent on their taxes, making the process less stressful and more efficient.

Error Reduction:

• Businesses: Businesses see a 40% decrease in errors on tax filings when using tax planning software, which helps avoid costly penalties and audits.
• Individuals: Individuals report a 35% reduction in errors, ensuring more accurate tax returns and maximizing potential refunds.

Cost Efficiency:

• ROI: On average, users report a return on investment (ROI) of 150% within the first year of using tax planning software, thanks to reduced accounting fees and optimized tax strategies.
• Cost Savings: Small businesses save an average of $1,200 annually on tax preparation and filing costs.

Compliance and Updates:

• Regulatory Updates: 90% of users appreciate the automatic updates feature, which keeps them informed of the latest tax laws and regulations, ensuring compliance without additional effort.
• Audit Support: 60% of business users value the audit support feature, providing peace of mind and expert assistance in case of an IRS audit.

Demographic Insights:

• Age Distribution: The majority of individual users (60%) are between the ages of 25 and 45, reflecting a tech-savvy demographic that values convenience.
• Business Sectors: The software is widely used across various sectors, with professional services (25%), retail (20%), and manufacturing (15%) being the top three.

Future Trends:

• Cloud Adoption: 75% of new users prefer cloud-based tax planning software for its accessibility and collaborative features.
• AI Integration: 50% of users express interest in AI-driven features for predictive analytics and personalized tax advice, which are expected to become standard in the next few years.

Tax planning software has significantly transformed the way individuals and businesses handle their taxes, offering substantial time and cost savings, improved accuracy, and enhanced compliance.

MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Tax Planning Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Tax Planning Software Market, by Type, 2019-2024, 2025-2030 ($ millions)

Global Tax Planning Software Market Segment Percentages, by Type, 2023 (%)

• Cloud-based
• On-premises

• Individual
• Government Agency
• Enterprise
• Others

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

• Key companies Tax Planning Software revenues in global market, 2019-2024 (estimated), ($ millions)
• Key companies Tax Planning Software revenues share in global market, 2023 (%)

• Corvee
• Drake Software
• Intuit
• TaxPlanIQ
• Tax Planner Pro
• Wolters Kluwer
• Holistiplan
• CFS Tax Software
• Bonsai Technologies
• Thomson Reuters
• Bloomberg Tax
• InvestCloud
• Execplan
• TaxFitness
• TaxStrategis
• ChangeGPS
• ESPlanner
• Forte International Tax
• Covisum
• SAP
• Sovos Compliance
• InfoSpace
• Sailotech
• TaxSlayer

Chapter 1: Introduces the definition of Tax Planning Software, market overview.

Chapter 2: Global Tax Planning Software market size in revenue.

Chapter 3: Detailed analysis of Tax Planning Software company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Sales of Tax Planning Software in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: The main points and conclusions of the report.