Collective

Top 10 Home Office Deductions You Shouldn’t Miss 👇 As more professionals work from home, maximizing your home office deductions has never been more important. Here are 10 key deductions you can take advantage of: 1. Mortgage interest 2. Water bill 3. Laptop 4. Office supplies 5. Desk 6. Internet bill 7. HOA bills 8. Homeowners insurance 9. Ergonomic chair 10. Monitors Quick Tip: Your home office space must be used exclusively for business purposes to qualify. If you’re using your bedroom as an office, it won’t count! #TaxTips #WorkFromHome #HomeOfficeDeductions #SmallBusiness #Entrepreneurship #RemoteWork #taxes #freelancing

Top 3 Reasons Your Business Shouldn’t Become an S Corp🚨 1️⃣ Ownership Restrictions– S Corps limit who can own shares, making it tough if you plan on having multiple or non-U.S. owners. 2️⃣ Increased Payroll Scrutiny– You’ll need to pay yourself a reasonable salary, and the IRS keeps a close eye on S Corps for underpayment. 3️⃣ Higher Administrative Costs– More paperwork, payroll, and tax filings can add up, increasing your overall costs. Thinking of making the switch? Make sure it’s the right move for your business! 💡 Collective is your trusted source for all things taxes, entrepreneurship, and business growth! #scorp #business #businessadvice #llc #entrepreneurship #solopreneurship

Our team is growing at Collective!!! We're hiring a Sr. Fullstack Software Engineer https://lnkd.in/eS4RHKAQ, if you're interested or know of anyone who may be a great fit, apply!

Meet Collective member Jason Polevoi, an award-winning documentary filmmaker and the visionary behind One City Films. From a young age, Jason found joy in capturing moments on camera, and now he’s amplifying stories that deserve to be seen. His passion for storytelling has led him to produce and direct films that elevate the voices of those doing extraordinary things outside the spotlight. For Jason, filmmaking is more than just a profession—it’s a purpose. “We are here to be good people, to do good things,” he says, a belief that shines through in every project he undertakes. With five regional Emmys under his belt and a commitment to making meaningful films, Jason’s work brings attention to causes that matter. Outside of his career, Jason is a dedicated father, drawing inspiration from his kids to be a better person every day. Explore more about Jason’s journey and how he’s using his platform to make a difference at the link below. https://lnkd.in/gb_-hpEj #videography #filmmaking #entrepreneurship #solopreneurship #businessstorytelling

Meet Hayley Cottle Senior Onboarding Accountant at Collective. We recently sat down with Hayley to explore what sets Collective apart from traditional accounting services. Her insight was eye-opening. Hayley highlighted the advantage of Collective's fixed-fee structure, which bundles essential services like taxes, accounting, bookkeeping, and S Corp election into one simple package. As she puts it, ‘With Collective, youre paying a fixed flat fee. If you go to another accounting agency you’ll be paying an hourly rate. You’ll be paying extra Everytime you talk to them.” At Collective, we’re more than just accountants. We’re committed to providing a seamless experience for our members, without hidden fees or hourly rates. Curious about how Collective can simplify your business finances? Visit collective.com to learn more. #entrepreneurship #selfemployed #accounting #businessaccounting #taxes #solopreneurship

At Collective, we’ve helped thousands of businesses, and these are just some of the mistakes we’ve seen! These LLC tips can provide critical insights for your business👇 1️⃣ Not understanding state-specific requirements – missing these details can cost you big. 2️⃣ Choosing the wrong state to form your LLC – the right location could mean better protections or tax benefits. Don’t risk your LLC’s future – learn, plan & succeed! Remember Collective is the go to destination for all things entrepreneurship,taxes & business 💡 #entrepreneurship #business #solopreneurship #llc #businesstip

Did you know you can still take advantage of S Corp benefits this year 🤔 You can do this by backdating your election! It's not too late to save big on taxes! 🕒💰 With an S Corp, you could reduce your self-employment taxes by up to 15.3%, putting more money back into your business.💡 Whether you're a solopreneur or a small business owner, Collective makes the process easy by helping you backdate your S Corp election to July 1st, 2024. Here’s how Collective can help👇 - Simplify the paperwork for an S Corp election - Potentially save you $10,000 or more in taxes - Ensure you’re paying yourself properly through payroll to avoid IRS penalties Don’t miss out on this opportunity to set your business up for success in 2024! Remember to Follow Collective for more tips and expert advice on maximizing your tax savings. 📲 #taxes #taxsavings #scorp #business #entrepreneurship #solopreneurship

Meet Collective member Bethany Joy C., the inspiring founder of Hope Here, a community centered around fertility support. Bethany's journey has taken her from building connections for brands like Walt Disney and TOMS Shoes to building her own dream. After two decades in corporate America, Bethany embraced a new path—one where she could create space for others navigating their fertility journeys. For Bethany, entrepreneurship is about more than just business; it’s about helping others through their most vulnerable moments. "At the end of the day, life is about lifting each other up," she says. That belief fuels her work every day, creating hope for those who need it most. Outside of her business, Bethany is a devoted mother, inspired by her daughter and dedicated to nurturing the dreams of others. Dive deeper into Bethany’s story and learn how she’s creating a community of hope at the link below. https://lnkd.in/g-Rw6SZm #selfemployed #entrepreneurship #solopreneurship #businessstorytelling #businesscommunity

Tax Tuesday: Ask Us Anything Questions about Tax Season? What forms do you need to file? Don't worry - Luke has got you covered! #taxseason #taxbenefits #askusanything #finance

Meet Jason Ortiz, Marketing Design Lead at Collective. We recently sat down with Jason to discuss his vision for the future of the business-of-one landscape. His response was insightful and inspiring. Jason believes that building a community by solopreneurs, for solopreneurs, is one of the most impactful ways to contribute to this space. As he puts it, “Find what you’re good at, and do it with the people you love working with.” At Collective, we’re not just focused on helping entrepreneurs with their taxes, accounting, and bookkeeping. We’re also committed to fostering a community of like-minded entrepreneurs who can connect, grow, and build lifelong relationships. Curious about how Collective can help your business and connect you with like-minded entrepreneurs? Visit collective.com to find out more. #entrepreneurship #solopreneurship #business #selfemployed #businesscommunity