Collective Blog — Collective Hub

Inspiration and advice on leveling up your business-of-one.

How to Calculate Net Income

Knowing your business’s net income is vital to understanding the financial health of your business — and it’s simply a matter of subtracting expenses from revenue. This number is a quick measure of the viability of a business, and it overcomes overly optimistic reporting on numbers like revenue and customer growth by factoring in the […]

5 Tips on How to Scale a Business from a Successful Freelancer

In the early stages of my business, my main goal was to generate enough revenue to provide for myself and my family. Sustainability was my focus, and scaling my business was the furthest thing from my mind. But in just eight months, I found myself at an unexpected crossroads. I had more work than I […]

Four Queer Entrepreneurs Share their Advice for New LGBT+ Businesses

In the early days of my life as a queer entrepreneur, I agonized about how out I should be in my business. I worried that if I came out to my audience, I would lose customers and revenue. Finally deciding to be open about my sexuality, I sent a newsletter to my email list mentioning […]

5 Ways to Build a More Queer and Trans Inclusive Business

For many LGBTQIA+ folks, Pride month is a time to celebrate our identities, honoring those who paved the way (shout out to Marsh P. Johnson and Sylvia Rivera) and reflect on the work we need to do to support our marginalized community members. It’s also a time for rainbows. Lots and lots of rainbows. But, […]

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

The topic of insurance and “benefits” as a full-time freelancer is one that both fascinates and perplexes old and new friends alike. “I could never leave my salaried job – I need benefits!” they exclaim. “But what do you do about insurance?” they effusively inquire. To which I usually reply, “Same thing Jeff Bezos does […]

3 Reasons Why I Don’t Work Weekends: The Importance of Setting Boundaries as a Freelancer

There’s no one-size-fits-all approach when it comes to setting professional boundaries in your freelance career. For many, boundaries are a constantly evolving construct, ever-changing to realign with new goals and aspirations. For instance, early on in my career, I had very few boundaries. I frequently pulled as many hours as I could and was constantly […]

Three Ways Entrepreneurs Can Cultivate Mental and Emotional Health

There’s a mental health crisis in entrepreneurship and it’s not going away anytime soon. Many entrepreneurs don’t talk about mental health struggles, the stuff that’s actually happening behind closed doors, because of the stigma associated with mental health. In my book Holistic Wealth: 32 Life Lessons To Help You Find Purpose Prosperity and Happiness, I […]

Announcing Collective $20M Series A to Support the Rise of Businesses-of-One

We launched Collective to the world in September 2020, introducing the first online, back-office platform crafted for businesses-of-one. Our vision was simple — enabling members to be more successful by focusing on their passion, not their paperwork. It’s been a wild ride since then. As entrepreneurs, we believe that access to world class financial services […]

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

Dr. Martin Luther King Jr. is believed to be the first to introduce the phrase, “a budget is a moral document.” As a 9-to-5er who took the leap to full-time freelancer, I’ve come to understand these words to be true. If you look at my budget today, it would tell a very different story than […]

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

As someone who is self-employed, I often feel overwhelmed juggling all the balls in the air and praying that they won’t come crashing down.If you too, feel the same way, there is a way to make sure you’re on top of what’s most important — keeping the IRS happy. After all, money and taxes are […]

Expert Tips for Tax Time: 6 Solo Entrepreneurs Weigh In

While the exact day taxes are due may shift a bit from year to year, there’s no question that every business owner has to file one of these days. If you’re a solo business owner like me, that means pulling together a folder of business receipts, gathering a big stack of 1099 forms from clients, […]

How Women of Color Can Build Generational Wealth through Entrepreneurship

Generational wealth is a hot topic these days. From investing in real estate, the stock market and cryptocurrency, there are many ways to stack your coins and create a path for future generations. But how are you supposed to create wealth, increase your net worth and put more money in the bank? Entrepreneurship just might […]

Tax Tips

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

Should I Pay Someone to Do My Self-Employed Taxes? Here’s How to Know

5 Self-Employed Tax Mistakes that Cost You Big Time

What You Need to Know About the 2020 Tax Deadline Extension

7 Things You Need to Do to Prepare for Your Self-Employed Taxes

10 Tax Deductions that Creatives Needs to Know

How to File your Freelance Taxes (and Save Money)

Are You Sure You’re Legally a Freelancer?

Six Pro Tips for Freelancers to Save Big on Taxes

How an S Corp Could Save You $5,000 (or more) on Your Freelance Taxes

The Ultimate Guide to Getting Your Freelance Taxes Right

Bookkeeping

How to Write Off Your S Corp Mileage using QuickBooks Online

The Best Payroll Provider for Freelancers

5 Ways to Organize your Money with QuickBooks Online

What Every Freelancer Should Know About Bookkeeping

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.

Estimate Your Tax Savings

Business Setup

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- Which is the best for freelancers?

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

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

How to Pay Yourself from an S Corp the Right Way

How to Open a Business Bank Account for Your New Business

Small Business Hacks

5 Tips on How to Scale a Business from a Successful Freelancer

Four Queer Entrepreneurs Share their Advice for New LGBT+ Businesses

5 Ways to Build a More Queer and Trans Inclusive Business

3 Reasons Why I Don’t Work Weekends: The Importance of Setting Boundaries as a Freelancer

Three Ways Entrepreneurs Can Cultivate Mental and Emotional Health

Community Spotlight

Kenzel Fallen on the importance of nurturing relationships

Tyrone Marshall Jr on how to create a solid foundation for your business

Stephen Larmer on knowing when to hire the right help

Michael Nguyen on embracing failure

Stephanie Wong on evolving with a rapidly changing industry

Brian Stanton on working on your business — not just in it

Garrett Oden on going from coffee shop manager to agency owner

Tallia Deljou on staying in her zone of genius by asking for help

Shirley Ansley on creating systems to simplify your business

Nikki Venus on using her mistakes to empower others

Delyanne Barros on the power of empathy in business

Matthew Silverman on learning to say no

Brigid Shivers on starting a business during COVID

Joshua Plicque on viewing failure and adversity as feedback

Jinnie Lee Schmid on outsourcing to create forward traction

Camille Tintle on designing a business on her terms

Reece Young on operating on a shoestring budget

Morgan Overholt on ignoring the haters

Will Tams on keeping your dream and fire alive

Jason Yormark on taking control of his own destiny

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.