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Collective

@collective

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The first all-in-one financial platform built exclusively for self-employed entrepreneurs

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Curious what our all-in-one back office platform for solo business owners looks like? See how Collective can help with your business formation, bookkeeping, taxes, payroll, invoicing, and more.

#scorp #smallbusinesstaxes #taxsavings #businesstaxes #entrepreneurship #solopreneurship #businessfinance #taxadvice by @collective

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10 months ago

Here’s a cheat sheet to save for later 👇

How to choose?

Neither is “better.” The right answer depends on your unique situation and the goals you have for your business

Choose a single-member LLC if you want simplicity, lower upfront costs, and are just starting to test your business idea

Add an S Corp election when you are a high-earning solopreneur ready to maximize your take-home pay

Whether you opt to stay a single-member LLC or ready for an S Corp election, Collective can help. Click the link in bio to chat with our team

#entrepreneur #smallbusiness #solopreneur #tax by @collective

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21 days ago

September 15th isn’t just “another tax date.” If you’re self-employed, this one can actually cost you if you miss it

Here’s what’s due:
→ Q3 2026 estimated tax payment
→ Extended deadline for S-Corp and partnership returns

Miss the estimated payment and the IRS can charge you a penalty, even if you pay in full come April. Miss the extended business return deadline and it’s a flat penalty per month, per partner or shareholder, on top of whatever you already owe

Swipe through for exactly who this applies to and what to do before the 15th

#selfemployed #taxes #solopreneur by @collective

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a month ago

Moving to a state with zero income tax sounds like an easy win, but leaving high-tax states like California or New York is harder than just updating your address.

If you do not properly cut ties, state tax agencies can audit you and claim you never actually left.

Key traps to avoid:
Domicile: States look at where your real life is based—including bank accounts, property, driver licenses, and where you spend time

The 183-Day Rule: Spending more than 183 days in your old state can make you a statutory resident for tax purposes

Hidden Costs: States without income tax often make up for it with higher property taxes, sales taxes, or business fees

#taxes #finance #entrepreneur #smallbusiness by @collective

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a month ago

“Everything is a gamble” 🎲

When building something new, the line between optimism and delusion is razor-thin. Collective CEO Hooman Radfar breaks down how he stays disciplined when taking massive bets, and why relentless belief is essential for founders.

#entrepreneurship #startuplife #leadership #founder #Collective by @collective

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a month ago

Calculating the home office deduction. Here is how to write off rent and utilities as a solopreneur.

#taxes #entrepreneur #solopreneurship by @collective

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a month ago

Check on your solopreneur friends today

#monday #solopreneurlife #justforfun #entrepreneurship by @collective

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a month ago

The single habit that delivered our CEO Hooman’s biggest ROI wasn’t a 4 AM wake-up call or a complex strategy, it was something much simpler.

Watch the full clip to see the daily habit that changed everything.

What’s the one daily habit that gives you the highest return on investment?

#60secondfounder
#founderhabits #startuptips #entrepreneur by @collective

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a month ago

Are client meals tax deductible at the client’s location?

To write off a meal with a client at their location, just make sure:
You discuss business
You (or an employee) are actually there.It’s not lavish or extravagant
You keep the itemized receipt and log who you met with!
Bonus- the mileage to get there is deductible too

#taxtips #smallbusinessowner #business #clients #writeoffs by @collective

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a month ago

There’s a huge misconception that you can just run a single lump-sum payroll at the end of the year. While the IRS doesn’t set a strict frequency, they do require S Corp owner-employees to pay themselves a reasonable salary regularly throughout the year.

If your income is seasonal or unpredictable, a monthly payroll is a great middle ground. But the safest bet? Set a recurring, year-round cadence (like bi-weekly or monthly) and stick to it.

#SCorp #PayrollTips #SmallBusinessTaxes #TaxStrategy #BusinessOwnerAdvice by @collective

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2 months ago

Thinking about electing S Corp status but not sure if it’s actually worth the extra paperwork? Here’s what it can actually do for you:

cut down your self-employment tax

let you reimburse yourself for business expenses through an accountable plan

help make health insurance premiums for you and your family deductible.

Not sure if you’ve hit the income level where it makes sense? That’s exactly what we help solopreneurs figure out.

Save this for when you’re ready to talk numbers, and drop your S Corp questions below 👇

#taxes #selfemployed #smallbusiness #solopreneur by @collective

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2 months ago

Thinking about writing off your pet’s vet bills? 🐈

While it is possible under very specific IRS rules, your dog snoring next to your desk or being a “morale booster” doesn’t count as a business expense

For an animal to qualify as a tax deduction, they usually need to have a direct, ordinary, and necessary job (like a guard dog protecting inventory or a barn cat for pest control), or be a certified medical service animal

#pet #deductions #business #tax #entrepreneur by @collective

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2 months ago