Mixed Method Market Research on Tax Planning
Hot off the presses and ready for tax season; our collaboration with students at the University of San Francisco uncovered key insights into what younger generations need from financial service brands, tools and services at tax time.
Our deep dive into their “tax season journey” yielded insights into the motivations, challenges and decision-making processes that drive these unique generations. Undergraduate and graduate students conducted a robust, mixed method research study to unlock how Millennial and Gen Z copes when it comes to tax preparation
Of note, fewer than 1/3 use a tax professional, preferring to turn to DIY tools. However, 65% lack confidence that they are taking advantage of all qualifying deductions and credits.
Filing taxes is a new and unfamiliar process for younger generations. Unlike previous generations who relied on traditional tax advisors or in-person consultations, digital natives seek advice from digital sources, attempting to navigate the process independently.
While their initial needs might be simple at first —such as filing a basic return or claiming initial deductions—these needs will evolve over time.
Since 32% say access to more information and resources would encourage their engagement, financial brands that understand and support this journey with information can cultivate lasting relationships with these key young audiences.
Want to learn more? Check out our white paper for the full story!
Throughout 2025 we’re excited to share findings from our student-led market research projects conducted with undergrad and graduate students at the University of San Francisco. The breadth and depth of our data set is particularly noteworthy, uncovering trends and preferences among Gen Z and Millennial consumers. Discover not only the “how” but the “why”. Each quarter, we will delve into additional topics. Stay tuned for more insights.
