WHAT IS COLLECTIVE?

Collective is an online platform that handles creating an LLC, setting up your S-Corp with the IRS, bookkeeping, payroll and, if that isn’t enough, they file your business taxes quarterly and annually. They truly are an all in one service.

WHY I CHOSE COLLECTIVE:

I desperately wish I would have found this company years ago!! They average $10k savings in taxes for their clients! Can you imagine what you could do with that kind of savings?!

Here are a few reasons why I decided to work with Collective:

1. I value my time and money. I recognized that I was spending valuable time, that I needed to be spending elsewhere, keeping track of my business finances. And I realized that I was ready for the freedom of not having to handle my own books and taxes. 
2. I put off forming an LLC for too long. Frankly, I didn’t know enough about what that meant exactly and I was intimidated by it and  just didn’t have the time to learn all about it.
3. I started learning about the tax benefits of having your LLC taxed as an S-Corp (you can learn about the benefits of forming and LLC taxed as an S-Corp here).
4. I was frustrated with my current bookkeeping system (Quickbooks) and knew it was time to make a change.

Collectives customer support team has been absolutely amazing, super fast, and very kind. I’ve also found that using this company helps to keep me on top of my quarterly taxes. I’ll be honest and admit that those are one of the first things that often get pushed to the backend because I hated doing them and would much rather spend my time designing fun printables or taking my son to the park!

HOW TO START WITH COLLECTIVE:

The process to start working with them is extremely easy and streamlined. You start by setting up a call with an onboarding manager, and I promise that call isn’t as scary as it sounds! It’s a super easy 20-minute phone call where you talk about your business and your financial goals.  Then, after the call, you will receive emails about your first payment and setting up your online portal. You will then set up your “New Member Service Webinar.” This is a 45-minute webinar where they will talk you through everything… all the services they provide, your next steps, and your upkeep. You will then be prompted with steps for collecting necessary information for forming your LLC and S-Corp Election.

HOW MUCH DOES COLLECTIVE COST?

You get everything you need to start and run your self-employed business (and take advantage of the exponential potential tax savings) for just $349/month or $296/month when paid annually.

That may sound expensive, but if you think about an average accountant’s salary being about $63k/year versus $349/month for your own personal accountant, it just makes sense! And the best part? This is a tax write off!! With an average savings of $10,000 for their clients, it ends up paying for itself, not to mention the time and headache it saves you!

WHAT’S INCLUDED IN THE PRICE?

Included in the pricing listed above is:

• Filing your LLC and S-Corp Election
• Creating an EIN for your business
• Monthly bookkeeping
• Payroll services
• Financial reporting

You will also receive a personal accountant and tax advisor who will work alongside you and help guide you along the way.

WHAT’S NOT INCLUDED IN THE PRICE?

Filing fees are not included. These include your State LLC filing paperwork fee, which is a yearly fee. Collective shows you the price for your state during your onboarding meeting. You can also find this fee on your state’s website. For instance Montana’s is $70 a year right now. 

HERE’S SOME THINGS OTHERS LIKE ME HAD TO SAY ABOUT COLLECTIVE:

Collective has been amazing, I cannot tell you enough just how much I love this service. If you are intimidated by the process of creating an LLC, filing necessary paperwork to the IRS to form your S-Corp, want to spend less time on your books AND have your payroll and taxes done for you then Collective is the service you need!