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Good Morning America: TurboTax vs Accountants

April 3, 2008 by Scott Kinne

To see which method gives tax filers the “biggest bang for the buck”, ABC’s Good Morning America recently compared three popular tax preparation services:

  1. TurboTax
  2. H & R Block
  3. Personal accountant

In declaring TurboTax the “winner”, the 4-minute video glossed over several important tax-related items.

The first is that true tax planning cannot happen in a 3-hour stint in front of a computer. Tax planning a year-round activity.

The second is that all personal financial decisions should be evaluated for their tax implications. That can’t happen without a personal accountant that knows your tax history and understands your financial goals.

The third is that filing income taxes is a personal event. The “winning” tax preparation method for the family on TV may not be what’s best for your family.

If you’d like a referral to a trusted accountant, please ask me. Filing your taxes for cheap today does not mean it will be the lowest cost to you long-term.

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Scott Kinne

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NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

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