Collective Blog — Collective Hub

Inspiration and advice on leveling up your Business-of-One.

What are Intangible Assets?

What are Intangible Assets? Intangible assets are often overlooked in day-to-day operations but understanding them can be an invaluable tool when it comes to building your brand and reducing your tax bill. In this article, we’ll discuss what are intangible assets are and how they can benefit your business. What are intangible assets? Intangible assets […]

What S Corp Owners Need to Know About the QBI Deduction

What S Corp Owners Need to Know About the QBI Deduction The Qualified Business Income Deduction is a relatively new tax deduction that offers considerable benefits to self-employed people and other small business owners. It provides a deduction for up to 20% of the income you earn from your business, so it can help S […]

What Is Taxable Income?

Navigating the world of taxes can be confusing and overwhelming. As a small solopreneur, it’s important to understand what’s considered taxable income and how you can use the tax code to reduce it when possible. This blog post will explain key concepts related to taxable income and provide useful guidance for reducing your overall tax […]

S Corps Become More Valuable With New Social Security Wage Base

The Social Security wage base plays a role in how much you pay in Social Security taxes and as a result, self employment taxes, which are Social Security taxes and Medicare taxes combined. The Social Security wage base adjusts annually based on the national average wage index. For 2023, the wage base has risen significantly, increasing […]

Should You Start a Holding Company?

If you’re a small business owner who owns multiple businesses, you may wonder whether or not starting a holding company is right for you. Holding companies can offer advantages, like letting you own multiple companies through one entity, protecting your personal assets from business debts, and keeping business liabilities separate. Other benefits of a holding […]

How to Pay Estimated Taxes

As a Business-of-One, there’s no doubt that taxes can be confusing. From keeping track of income and deductions to submitting quarterly estimates, there’s no shortage of paperwork and attempts to interpret the tax code. In this post we’ll break down what estimated taxes are and everything you need to know about calculating estimated tax payments, […]

Tax Payments 101: A Beginner’s Guide to Understanding How They Work

So, you’ve finished your tax return and you owe the government more money than you expected. What happened? Chances are, you didn’t pay enough between your W-2 withholdings and estimated taxes throughout the year. Nobody likes making sense of tax buzzwords and tax forms (okay, maybe we do a little bit) – but it is […]

How to Write Off a Car for Business

As a self-employed business owner, you know how important it is to track and manage your expenses. From supplies to services and travel, there are many items that can be written off – including the use of your personal car! If you’re considering writing off your car as a business expense but aren’t sure where […]

Self-Employed Guide to the Home Office Tax Write Off

For Businesses-of-One, setting up a home office can be a great way to get tax deductions. But figuring out how to go about writing off a home office can be confusing. This guide will help you understand what expenses you can write off when you’re self-employed and how to claim a home office on your […]

Self-Employed Workers are Optimistic About 2023

We’re thrilled to release the first edition of the Collective B1 Economic Report, a semi-annual look into how the economy is going for American Businesses-of-One. This first of its kind report, examines revenue trends, cost trends and near-term business expectations among the self-employed, providing a brand-new indicator of economic growth. The report’s data and survey […]

Collective Across the Country

At Collective, our mission is to enable Businesses-of-One to become more financially successful by giving them time to focus on their passion and not their paperwork. It’s a big mission. It will take us a long time to deliver. There are a lot of solo businesses. Like, a LOT. In our first year, we started with just […]

Why Bookkeeping Is Important: The Basics

You may be wondering what bookkeeping is – and how it can help your business, before and during tax season. One thing to know right off the jump: bookkeeping is essential. The first step in many critical business tasks, it allows you to have a better view of your business’ finances at any given time. […]

Tax Tips

State Tax Implications When You’re A Digital Nomad

What is intellectual property?

What $80 Billion in IRS Funding Means for the Self-Employed

What are Intangible Assets?

What S Corp Owners Need to Know About the QBI Deduction

What Is Taxable Income?

S Corps Become More Valuable With New Social Security Wage Base

Should You Hire Your Children?

What is the Standard Deduction?

What Does Tax Bracket Mean?

How to Pay Estimated Taxes

Tax Payments 101: A Beginner’s Guide to Understanding How They Work

How to Write Off a Car for Business

Self-Employed Guide to the Home Office Tax Write Off

The Real Estate Agent’s Tax Guide for 2023

5 Outstanding Tools that Make Filing Your Self-employed Taxes a Breeze

Expert Tips for Tax Time: 6 Solo Entrepreneurs Weigh In

Are you making one of these self-employed tax mistakes?

Self-Employed Taxes 101: How they work and what you need to know

14 Self Employed Expenses You Can Write Off On Your Taxes

Bookkeeping

Why Bookkeeping Is Important: The Basics

How To Use Financial Reports To Run and Scale Your Business

How to Choose an Online Bookkeeping Service as a Business-of-One

How to Write Off Your S Corp Mileage using QuickBooks Online

The Best Payroll Provider for Freelancers

Setup Your Business

Collective makes setting up and running your freelancing business simple and affordable while saving you some serious money on taxes. See how much you could save with Collective.

Business Setup

What Is a Business Entity? (With Examples for Self-Employed Businesses)

Should You Form Your LLC in Delaware?

Should You Start a Holding Company?

How to Setup an LLC for an Online Business

Should you start an LLC or S Corp? Here’s How to Decide

6 LLC Setup Mistakes (and how to avoid them)

Self-Employed and Moving to a New State? Here’s What You Need to Know

Here’s How Starting an S Corp Leveled Up my Online Business

LLC vs S Corp: The Difference and Tax Benefits

When is the best time to switch to an S Corp?

Can you afford to be an S Corp?

Why are you still a sole proprietor? It’s time to switch

Started an LLC? These Are the Most Important Things to Do First

12 Mistakes to Avoid When Starting a New Business

Business Entities for Freelancers: Which One Is the Best?

Getting an EIN is Easier Than You Think- Here’s How

Everything You Need to Know about Registered Agents

Money Management

4 Retirement Savings Options For The Self-Employed

5 Personal Finance Best Practices for Six-Figure Business Owners

How to Account for Health Insurance, Vacation Time and Other Benefits in your Hourly Rate

How to Save When You’re Self-Employed and have Inconsistent Income

How to pay yourself when you’re self-employed

How to Run Payroll for an S Corp

How to Use your Personal Financial Identity to Grow your Business

9 Reflection Questions to Help Your Business Level Up Next Year

How the 80/20 Rule Helped me 3x my Revenue in Less than a Year

How to Create an Authentic Budget for Your Business

Create a Better Business Using Values-Based Spending

Level Up Your Freelance Finances with These Expert Tips

How to Pay Yourself When You’re a Freelancer

What Is an S Corp “Reasonable Salary”? How to Pay Yourself the Right Way

How to Open a Business Bank Account for Your New Business

Small Business Hacks

The 6 Lead Generation Mistakes to Avoid In Your Solo Consulting Business

How To Establish An Effective Lead Generation Routine As An Independent Consultant – A Case Study

Tips for Creatives to Overcome Isolation and Loneliness

How to Turn a Referral Program Into a Main Source of Income

How to improve your payments workflow

Community Spotlight

How this solopreneur helps clients like The Rock, Marvel, and Adobe

The human side of social media and branding through user generated content

Money & finance – investing to increase net worth when self-employed

How understanding your identity can help your business grow

How this pilates studio is serving clients all over the world

Teaching Type-A – how this solopreneur turned her passion for women into a business

The benefits of TikTok for businesses-of-one

How a military veteran launched a boutique ocean and maritime data analytics consultancy

A marketing pro who turned a side hustle into a main hustle – quickly

From Google to UX/UI Design agency through mentorship

The Post-Production Company Working With Brands Like Netflix

An Influencer’s Journey From 200k in 2 Weeks to 2m Followers

Building a Business-of-One in the Bahamas

Terence Yang on leaving tech and stepping out as a coding teacher

Mané Bailey on how discipline fueled her 7-figure business

Faith Storey on taking risks in your business

Garrett Yamasaki on website success – and Doodles

Mark Griffo II on new projects as stepping stones to success

Teena Thomas on starting a business during a pandemic

Priscilla Cornwell on taking care of your mental health

Estimate your tax savings

With Collective, freelancers save an average of $16,845 or more in taxes every year. Plus they never have to worry about the legal or tax side of running their business. See how much you could save with Collective.

* Based on average estimated tax savings of active Collective users with over $80,000 net revenue in 2019 ($12,217) and potential savings declared by Intuit Quickbooks TY17 US subscribers that have identified >$10,000 in income and >$0 in business expenses ($4,628)