Atlanta (April 14, 2004) -- Financial information and technology firm iLumen Financial Monitoring Inc. has made available a new suite of tax management and data analysis capabilities that enable CPAs to monitor and highlight tax-related changes across their portfolio of business clients throughout the year.
The Tax Monitoring Dashboard is a part of the iLumen Business Client Portfolio Monitoring Service for CPAs. It incorporates automated tax status calculations that model tax liability based on key factors including: an analysis of annual, quarterly or monthly taxable income; estimated tax liability; and accumulated tax payments.
CPA firms use the monitoring service to allow large numbers of private-company business clients to upload financials, which are analyzed and the results are delivered to their desktops.
"The Tax Monitoring Dashboard is a powerful, up-to-date information digest of the tax status of a private company," said Robert H. Woosley, co-founder and chief executive of iLumen. "Without an effective system to frequently capture and analyze interim financial data across a CPA firm's business client base, the tax planning process is reactionary and often too late to make meaningful adjustments."
--WebCPA staff
