Collective provides an all-in-one financial platform for self-employed entrepreneurs, offering services such as S Corporation formation, bookkeeping, and tax preparation. By managing these financial tasks, Collective enables members to save an average of $10,000 annually on business taxes while allowing them to focus on their core activities.
Funding
$79.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+2Founders
Product
Problem
Self-employed entrepreneurs often struggle with complex financial tasks such as S Corporation formation, bookkeeping, tax preparation, payroll, and compliance, diverting their attention from core business activities. Managing these financial aspects independently can be time-consuming, costly, and prone to errors, potentially leading to missed tax savings and compliance issues.
Solution
Collective provides an all-in-one financial platform designed specifically for self-employed entrepreneurs, offering a comprehensive suite of services to manage their business finances. The platform handles S Corporation formation, monthly bookkeeping, quarterly and annual tax preparation, payroll processing, and compliance monitoring. By automating and streamlining these tasks, Collective aims to save members time and money, allowing them to focus on growing their businesses while ensuring financial accuracy and compliance. Members gain access to a dedicated team of licensed accounting and tax professionals for support and guidance.
Target Audience
The primary target audience is self-employed entrepreneurs, freelancers, and solopreneurs who operate as S Corporations or are considering forming one to optimize their tax savings.
Features
- S Corporation formation and election services
- Monthly bookkeeping for income and expense tracking
- Quarterly tax estimates and annual business tax returns
- Payroll processing for S Corp owners
- Compliance monitoring to maintain good standing with state and federal regulations
- Access to a dedicated team of licensed accounting and tax professionals
- Online dashboard for managing finances and accessing support
- Invoicing tool for sending invoices and collecting payments