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    Creating a situational analysis for tax preparation business.

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    Need help in creating a situational analysis ( internal/external environments/ SWOT analysis) for tax preparation business. What are their strengths and weaknesses? What are their marketing objectives? What are their competitive advantages?

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    Situational Analysis of Tax Preparation Business

    Tax preparation business helps different businesses in planning and controlling of their tax amount. Situational analysis of tax preparation business helps in analysis of their internal and external situation and also helps to establish appropriate strategies. SWOT analysis of any business helps in situational analysis. SWOT refers to identification of strengths, weaknesses, opportunities and threats of a business (Ramsey, 2009). Strength and weakness are internal factors and opportunities and threats are external factors of a company. This paper will discuss about the SWOT analysis of tax preparation business and also about its marketing objectives and competitive advantages.
    SWOT analysis
    SWOT analysis of tax preparation business will be helpful to analyze both internal and external situation of the company. With the help of this analysis, company can establish proper internal control system in the business and also can develop appropriate strategy to improve business effectiveness (Ramsey, 2009). To achieve this objective, it is essential toprovide more control over external factor then internal factor. SWOT analysis of tax preparation business is as below:
    Strengths- Strengths of tax businesses are as follow:
    • Tax preparation business is helpful in determining the tax liability of different organization. In this business some software are used that automatically determine the tax liability that increases effectiveness of other businesses (Daily, 2008).
    • It explains companies the manner in which they can complete their tax return and also provide knowledge of tax reduction strategy that is used by companies to reduce their tax liability that increases demand for its services (Tyson & Schell, 2008).
    • It helps to reduce different liabilities such as auditing, penalties of different businesses ...

    Solution Summary

    The expert creates a situational analysis for tax preparation businesses. Internal/external environments and SWOT analysis is examined.