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A blog to help freelancers with taxes - Collective

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2027 Tax Brackets Are Out: What Solopreneurs Need to Know

The IRS has released its 2027 tax brackets and inflation adjustments, and the new numbers affect how much…

Nov 13, 2026 · 9 min read
Blog

Collective Raises $100M for Full Stack AI Financial OS Powering the Solopreneur Revolution

SAN FRANCISCO — Collective, the AI-native financial operating system for Businesses-of-One, today announced $100 million in new funding…

Oct 29, 2026 · 4 min read
Blog

A New Era of Entrepreneurship

We built Collective with a singular belief – people who work for themselves deserve the same financial capabilities…

Oct 29, 2026 · 3 min read
Blog

Collective Launches Insurance Center, Expanding Its All-in-One Platform for the Self-Employed

SAN FRANCISCO, CA — July 22, 2026 — Collective, the all-in-one financial platform built exclusively for self-employed entrepreneurs,…

Jul 22, 2026 · 3 min read
Blog

Collective Welcomes Open Ledger

Today, we’re excited to share that Collective has acquired Open Ledger. When we started Collective, we were driven…

Apr 22, 2026 · 2 min read
Blog

Chynna Monforte – Web Designer

Liberating the web  Chynna Monforte (she/they) is an artist, revolutionary, founder and web designer.   Chynna is a force.…

Oct 9, 2024 · 9 min read
Blog

Introducing Collective Accounting: The first AI-powered accounting suite for solopreneurs

Today, we’re excited to announce the launch of Collective Accounting, the first AI-powered, integrated accounting suite, designed for…

Mar 14, 2024 · 4 min read
Blog

Collective Predicts Videography Will be 2024’s Most Lucrative Category of Business-of-One

Collective today named Videography the standout category of Business-of-One for 2024, citing its superior profitability and growth trends…

Jan 16, 2024 · 2 min read
Blog

Beating the Odds: U.S. Solopreneurs Find Success Amid Economic Challenges

We’re delighted to announce the release of the second edition of the Collective B1 Economic Report, which offers…

Nov 8, 2023 · 3 min read
Blog

Collective Raises $50M to Become First AI-Powered Finance Platform Designed for Solopreneurs

Three years ago, we launched Collective with the mission to empower Businesses-of-One with the technology and team that…

Jul 11, 2023 · 2 min read
News

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…

Feb 28, 2023 · 3 min read
Blog

Collective Across the Country

At Collective, our mission is to enable Businesses-of-One to become more financially successful by giving them time to…

Jan 30, 2023 · 2 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.

I agree to Collective Terms of Service & Privacy Policy. Additionally, by providing phone number to continue, I agree to receive calls, incl. autodialed or prerecorded sales calls, from Collective.

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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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