It’s everything you need in one solution
average member savings
Here’s your path to clean books
After you’ve used our tax savings calculator and gotten excited about how much you could save, you’ll continue down the path towards membership.
Talk with a business advisor
A team of new business advisors will go over the details of your business and answer your questions.
Become a Collective member
You’ll provide the documentation our tax and accounting team needs to get started.
Connect with our tax experts
They’ll roll out the red carpet and go over what to expect as a Collective member step by step.
Form entity and complete election
Already an LLC? Already have an S Corp? No problem! If not, we’ll handle that for you, so you don’t have to.
Set up your monthly bookkeeping
The onboarding team will get you set to start receiving monthly bookkeeping and financial reports.
Focus on what you love
You’ve spent enough time on bookkeeping and taxes. Get time back to focus on your passion. We’ll do the rest.
Frequently Asked Questions
What are the monthly services I’ll receive as a Collective member?
We’ll do your bookkeeping each month including putting your expenses in the right categories and comparing your bank and credit card accounts. You’ll also receive monthly financial reports, so you have reliable numbers to empower your decision making.
What’s the difference between Collective and a CPA?
CPAs can get quite expensive. And they usually either charge extra for things like bookkeeping. Or you have to go find someone else to handle that part. Now you have two separate services that are scattered. With Collective, we handle the LLC formation, S Corp election, payroll, bookkeeping, financial reports, quarterly tax estimates and compliance all in one solution.
What’s not included in the membership price?
The price doesn’t include third-party fees (such as fees and taxes charged by your city, state or the federal government), business license filing fees and other license fees, which vary by city.
Does Collective have a setup fee?
Collective does not have a setup fee for sole proprietors. For existing LLCs and LCCs already filing with the S election, there is a one time Business Success Upgrade fee of $399. This fee goes toward ensuring that your business is setup correctly, registered with the appropriate agencies, and in compliance with payroll requirements. This fee also covers catching up and cleaning up your year to date bookkeeping, regardless of the number of transactions.
What’s stopping me from doing my own bookkeeping?
Honestly? Absolutely nothing! Some people do their own bookkeeping. But if it’s not done right, you could miss out on deductions and end up paying more in taxes. It’s also something that should be done regularly – and can take time you don’t have to spare.
What’s the difference between Collective and a bookkeeper?
Your bookkeeper will help you keep your books clean. But anything else you need on the tax and financial side will either cost extra – or you’ll hire someone else to handle it. Things like compliance reminders, taxes, quarterly tax estimates, regular communication and tax education. You won’t get that with a bookkeeper. Leaving you to spend more time figuring some of that stuff out on your own. No thanks!
What makes Collective a great fit for solopreneurs?
Our members have elected to be taxed as an S Corp. It’s a great way to save on your taxes! In fact, they save an average of $10k. But you typically won’t start to see those savings until you’re making $80k or more per year. We’re also only in select states, for now!
* 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)