Abstract: A system and business method for conveniently dealing with various financial and tax-related transactions and updating financial and tax status over a computer network such as the Internet is disclosed. One or more Internet web sites permit remote users to establish accounts and run user sessions that involve the tracking and storing of financial and tax-related data. This data is then used in conjunction with existing software programs to automatically generate financial and tax summaries and reports on demand and in real time at any remote location and at any time of the year. The inventive system and business method also permits for hypothetical adjustments or extrapolations of data for analytical purposes, and also provides for direct live contact with a tax or accounting professional where desired by the user.