Tax Liability Advisory
Tax liability advisory means tracking what your business is likely to owe in taxes throughout the year, and planning decisions before they’re made, so you never face a surprise tax bill. It is different from tax preparation, which reports what already happened after the year ends.
Corvus Accounting is a non-CPA financial strategy firm. We track and plan your tax liability all year. When a return needs to be prepared and filed, our dedicated tax partner handles it, using books we’ve already kept clean and current.
By Suzanne Leonard, Founder, Corvus Accounting · Last reviewed November 2026
Free, no-obligation consultation. Serving small businesses nationwide.
Know the Difference
| Tax Planning (What We Do) | Tax Preparation | |
|---|---|---|
| When | All year | After year-end |
| Focus | Future decisions | Past results |
| Goal | No surprises, fewer missed opportunities | An accurate, filed return |
| Output | Running tax estimate, set-aside plan | Filed tax return |
What's Included
Updated as your books are updated, shown on your CFO dashboard.
How much to set aside and when it’s due.
A dedicated tax account using Profit First principles.
The tax effect of a purchase, hire, or owner pay change before you commit.
Clean, reconciled books handed to your tax preparer.
We work with your CPA or our dedicated tax partner.
How It Works
We review your prior-year return and current-year books.
We build a running projection of federal, state, and payroll-related tax liability.
We size your tax savings transfers and flag tax impacts of upcoming decisions early.
At year-end, your tax preparer gets organized, reconciled books.
The Basics
Sole proprietors, partners, and S corporation shareholders generally must make estimated tax payments if they expect to owe $1,000 or more (IRS: Estimated Taxes). The year is split into four payment periods, each with its own due date. Most taxpayers avoid the underpayment penalty by paying at least 90% of this year’s tax or 100% of last year’s, whichever is smaller. Higher-income taxpayers may need to pay more; see IRS Publication 505.
FAQ
Tax liability advisory is year-round tracking and planning of what your business will owe in taxes. Instead of learning your tax bill in April, you see a running estimate all year, set money aside as you go, and review the tax impact of major decisions before you make them. It’s planning, not filing.
Corvus does not file tax returns directly. We are a non-CPA financial strategy firm focused on planning, forecasting, and clean books. When you need a return prepared and filed, our dedicated tax partner handles it, or we coordinate with your existing CPA.
It depends on your profit, entity type, state, and how you pay yourself, so there’s no single right percentage. We calculate a set-aside amount from your actual books and update it as the year goes on. That way your tax savings track real profit instead of a guess.
Keep your books current, track your estimated liability during the year, make quarterly estimated payments, and keep tax money in a separate account. Most surprise bills come from strong months that were never set aside for. Real-time tracking catches them while there’s still time to plan.
Tax liability advisory is scoped and quoted after your free consultation, based on your entity structure, the condition of your books, and how often you want updates.
This page is for general education and isn’t tax advice for your specific situation. Talk with a tax professional before acting.
Related: Tax FAQs · Cash Flow Forecasting · Fractional CFO & Strategy
Beyond the Numbers
Book a free, no-obligation consultation and we’ll show you how real-time tax tracking would work for your business.
Stuck on one specific problem? Book a free problem solving session →
