Analysis
NAICS 54121 is the 2022 NAICS industry for accounting, tax preparation, bookkeeping, and payroll services, part of 5412 (Accounting, Tax Preparation, Bookkeeping, and Payroll Services). Census lists 29 example activities under it in the official index.
County Business Patterns counts 137,069 US establishments in this code in 2023, employing 1,297,995 people at an average annual payroll of $76,876 per employee (64th percentile of national industries). 70% of the establishments have fewer than five employees, which marks it as a small-business industry.
Across its national industries Census lists 29 index entries; typical ones are accountants' (i.e., CPAs) offices, certified public, income tax compilation services, motion picture production payroll services and accountants' (except CPAs) offices.
It splits into 4 more detailed codes. The largest by establishments is 541211 (Offices of Certified Public Accountants) with 55,052.
Its more detailed codes are 541211 Offices of Certified Public Accountants (55,052 establishments), 541213 Tax Preparation Services (28,762 establishments), 541214 Payroll Services (5,556 establishments) and 541219 Other Accounting Services (47,699 establishments).
For example, providing data processing services (except payroll processing services and financial transaction processing services) at their own facility for others are classified in 51821 (Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services) instead.
Official definition
This industry comprises establishments primarily engaged in providing services, such as auditing of accounting records, designing accounting systems, preparing financial statements, developing budgets, preparing tax returns, processing payrolls, bookkeeping, and billing.
Illustrative Examples:
Accountants' offices Payroll processing services Bookkeeping services Tax return preparation services
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Providing data processing services (except payroll processing services and financial transaction processing services) at their own facility for others | 51821 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services |
| Processing financial transactions (except central bank) | 52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities |
Index entries (29)
- Accountants' (i.e., CPAs) offices, certified public
- Income tax compilation services
- Motion picture production payroll services
- Accountants' (except CPAs) offices