According to a new ranking, accounting, tax preparation, bookkeeping and payroll services are collectively the most profitable industry in the nation.
Via Accounting Today:
The financial information company Sageworks issued its annual ranking of the most profitable industries in the U.S. on Friday. Leading the way was accounting firms, with a net profit margin of 19.6 percent, followed by real estate lessors at 16.0 percent, and automotive equipment rental and leasing at 15.8 percent. Dentist offices and legal services were tied at 15.4 percent.
Companies operating in those industries are seeing average net profit margins greater than 15 percent, or more than double the average for private companies.
You can read the full article here.