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Collective

A blog to help freelancers with taxes - Collective

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Community Spotlight

Community Spotlight

Luke Stone on Building a Studio Where the Work Comes First

There’s a moment in every creative’s career when the business catches up to the dream, and not in…

May 27, 2026 · 4 min read
Community Spotlight

How Solopreneurs Can Build a Network That Actually Gets It

The best professional network for a solopreneur isn’t always built around what you do. Sometimes it’s built around…

May 14, 2026 · 4 min read
Blog

Faces of Collective: Brian Liu and the Art of the Dream Weekend

For many designers, going independent is about reclaiming two things: their time and their creative instincts. But once…

Apr 28, 2026 · 5 min read
Blog

Faces of Collective: How Itzel Reclaimed Her Creative Flow Through a Modern Back Office

For many creative entrepreneurs, the craft is the easy part. The real challenge often lies in the quiet…

Mar 24, 2026 · 3 min read
Blog

Faces of Collective: Urina Harrell on Building With Intention

Urina Harrell was still a teenager when she began laying the foundation for what would eventually become Vox…

Feb 9, 2026 · 6 min read
Blog

Ashlee Rowland – Holistic Nutritionist

From Accidental Beginnings to Intentional Healing When Ashlee Rowland started sharing recipes on Instagram at 18, she had…

Oct 14, 2025 · 4 min read
Blog

Aaron Ngor – A Fitness Consultant

From Backup Dancer Dreams to Elite Athletics: How One Injury Changed Everything Meet Aaron Ngor, the athletic trainer…

Sep 4, 2025 · 5 min read
Blog

Milan Clarke – Social Media & Photography Agency

Making brands pop Milan Clarke is a marketer, photographer, California native, and moment-maker for her team and her…

Feb 28, 2025 · 14 min read
Blog

Cameron Gurr – Pro Resume Writer

Cameron Gurr (he/him) is an innovator, former Disney cast member, and pro resume writer.  Cameron is magic. He…

Dec 2, 2024 · 11 min read
Blog

Jason Polevoi – Documentary Filmmaker, Producer, and Taco Lover

Directing Real Life    Jason Polevoi is a documentary filmmaker, director and producer who believes doing good is why…

Oct 2, 2024 · 8 min read
Blog

Bethany Joy Clark – Community Builder & Fertility Coach

Building hope in community  Bethany Joy Clark is following her dreams and building community around fertility.   Bethany Joy…

Sep 18, 2024 · 7 min read
Blog

Howie Chan – Brand Builder & Strategist

Reinventing the journey Howie Chan is a marketer who left the science lab to build brands and build…

Sep 4, 2024 · 6 min read
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First, tell us about your business

Net profit = Total revenue - total expenses

  1. Find total revenue. Add up all money your business earned from sales of goods or services during the year.
  2. Subtract your expenses. Deduct all business costs like supplies, rent, utilities, software, contractor payments, and loan interest.

An estimate is fine, you don't need exact figures.

W2 employees are people on your payroll

You withhold income tax, Social Security, and Medicare from their paychecks, and they get a W-2 form from you at the end of the year.

Don't count yourself (even if you pay yourself a salary) or 1099 contractors and freelancers.

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We are experts in the unique needs and challenges of self-employed people and know that our confidence gives others confidence, too. Reach out to say hello and join our team.

We are experts in the unique needs and challenges of self-employed people and know that our confidence gives others confidence, too. Reach out to say hello and join our team.

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Collective provides a suite of tools, back-office support, and general information. Our services are not intended as tax, legal, or professional advice.

* Savings estimates reflect the average 2023 federal self-employment (SE) tax savings for Collective members with an S Corp tax election, based on business profits that would've otherwise been subject to SE tax. Actual savings will vary based on individual circumstances.

** Based on data sourced from Shopify blog, QBO Essentials, QBO Live, Gusto, Taxfyle, Intuit "Tax Pro" Research, LegalZoom and JustAnswer.com as of August 2025.

† Individual tax return packages are billed as an annual, one-time add-on fee.

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