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Collective Features and Benefits
SupportCollective.com offers a range of features and benefits designed to assist self-employed entrepreneurs. Here are some key features and benefits:
- Business Formation: This includes LLC formation in your state, creation of an operating agreement, obtaining your Tax ID Number (EIN), filing an S Corp election with the IRS, employer registration in your state, providing a registered agent for your business, and alerts for annual compliance filings.
- Self Employed Taxes: Services include quarterly tax estimates, annual salary recommendations, owner paycheck calculator, and business income tax returns (federal and states).
- Business Support: Free consultation with a tax advisor, year-round bookkeeping, payroll, accounting and tax support, and a member relationship manager.
- Self Employed Accounting: Set-up company books and payroll, bookkeeping and payroll training.
- Self Employed Bookkeeping: Monthly categorization of business transactions, reconciliation of business bank and credit card accounts, expert review of financial reports, financial reports package delivered monthly, close books at end of year and prepare for taxes.
- Self Employed Payroll: New hire reports filed with State, preparation and filing of quarterly payroll returns, Gusto subscription for payroll ($45/month value), Gusto payroll system training, automated payroll, unlimited payroll runs, issue and file W-2s.
These services are designed to save time and money for self-employed entrepreneurs. Members reportedly save an average of $10,000 a year on their business taxes. The platform offers two plans: an Annual Plan at $296 per month and a Monthly Plan at $349 per month. Onboarding and applicable state filing fees are not included in these prices. The services provided under these plans are designed to help entrepreneurs manage their businesses more effectively and efficiently.
Collective Pricing
The pricing for services at supportcollective.com is structured into two plans:
- Annual Plan: This plan costs $296 per month and offers a 15% discount with annual billing.
- Monthly Plan: This plan costs $349 per month.
Please note that onboarding and applicable state filing fees are not included in these prices.
The services provided under these plans include:
- Business Formation: LLC formation in your state, creation of an operating agreement, obtaining your Tax ID Number (EIN), filing an S Corp election with the IRS, employer registration in your state, providing a registered agent for your business, and alerts for annual compliance filings.
- Self Employed Taxes: Quarterly tax estimates, annual salary recommendations, owner paycheck calculator, business income tax returns (federal and states).
- Business Support: Free consultation with a tax advisor, year-round bookkeeping, payroll, accounting and tax support, a member relationship manager.
- Self Employed Accounting: Set-up company books and payroll, bookkeeping and payroll training.
- Self Employed Bookkeeping: Monthly categorization of business transactions, reconciliation of business bank and credit card accounts, expert review of financial reports, financial reports package delivered monthly, close books at end of year and prepare for taxes.
- Self Employed Payroll: New hire reports filed with State, preparation and filing of quarterly payroll returns, Gusto subscription for payroll ($45/month value), Gusto payroll system training, automated payroll, unlimited payroll runs, issue and file W-2s.
These services are designed to save time and money for self-employed entrepreneurs. Members reportedly save an average of $10,000 a year on their business taxes.
Payment Method
Supportcollective.com offers a variety of payment methods. Customers can make payments into the business checking account through cash, check, direct deposit, ACH, credit card, Venmo, and Zelle. All customer payments should be deposited directly into the business checking account.
The platform also provides options for invoicing and customer payment platforms. These can be as simple as emailing out monthly PDFs to customers with instructions to receive payment via direct deposit to the business checking account number and bank routing number. Alternatively, it can be as complex as using a third-party platform that specializes in estimates, contracts, or time tracking.
However, customer payment platforms involving merchant service accounts that allow accepting credit cards and ACH payments are not needed if customers can pay via cash, check, or direct deposit.
For those who use Xero for bookkeeping, there is an option of using Xero for invoicing. However, this may not be the best option for all members.
Please note that Supportcollective.com does not provide invoicing services. Invoicing is self-managed by the member. Complex invoice needs require third-party services. The only integration needed is the money from the invoices being deposited into the business checking account that is connected to the accounting software.
If there is a need for a great database for invoices, invoice line item detail, customer information, etc., then it's best to use a third-party invoicing platform.
Hope this helps! Feel free to ask more questions.
Collective FAQs
Collective Alternatives
Here are the top 10 alternatives to supportcollective.com:
- Bench: Automates accounting tasks to organize the financials of small businesses, independent contractors, and entrepreneurs.
- Coastal: Delivers solutions for Sales, CPQ, Billing, Service, Analytics, Marketing & Communities.
- Pilot: Takes care of your bookkeeping from start to finish.
- Accenture: Provides consulting and implementation practice.
- QuickBooks Live Bookkeeping: Matches you with an online bookkeeper who understands your business.
- Finviz.com: A stock screener for investors and traders, financial visualizations.
- Interactivebrokers.com: Offers online trading solutions for traders, investors and advisors, with direct global access to stocks, options, futures, currencies, bonds and funds.
- Elitetrader.com: The #1 site for traders of stocks, options, currencies, index futures, and cryptocurrencies.
- Tradestation.com: Offers a full suite of advanced trading technology, online brokerage services, & education.
- Zulutrade.com: The global leader in forex social trading.
These platforms offer similar services and can be considered as alternatives to supportcollective.com. They provide various features like bookkeeping, consulting, trading, and more. Each platform has its own unique features and benefits, so it's best to explore each one to see which fits your needs the best. Hope this helps! Feel free to ask more questions.
Collective Return Policy?
The return policy of supportcollective.com is quite straightforward. Any items that customers want to return must be returned within 30 days of receiving the order. To be eligible for a refund, all items must be returned unworn (apart from trying on) and in the condition that they were received.
Customers are recommended to return their orders via a tracked shipping method, or request a proof of postage receipt, as lost returns cannot be refunded or exchanged.
Once the return package is received, please allow 2-3 business days for the request to be processed. Once it's ready, customers will receive an email to confirm the next steps.
Please note that customers will be responsible for all associated shipping costs with their return (including import duty and tax). For exchanges, a 10% restocking fee is charged on all returns to cover the costs of packaging and processing the original order.
Hope this helps! Feel free to ask more questions.
How To Open A Collective Account?
To open an account on supportcollective.com, follow these steps:
- Visit the supportcollective.com website.
- Click on the "Start Now" or "Apply to a Fiscal Host" button.
- Fill out the required information in the application form.
- Submit the application.
Once the application is submitted, it will be reviewed by the team at supportcollective.com. After approval, the account will be set up and ready for use. The platform enables all kinds of groups to raise, manage, and spend money transparently. It uniquely combines a powerful tech platform with fiscal hosting, enabling Collectives to raise and spend money without legally incorporating, worrying about taxes, or opening a bank account.
Remember, supportcollective.com is a legal and financial toolbox for grassroots groups. It’s a fundraising + legal status + money management platform for your community. It does not provide invoicing services. Invoicing is self-managed by the member. Complex invoice needs require third-party services. The only integration needed is the money from the invoices being deposited into the business checking account that is connected to the accounting software.
Hope this helps! Feel free to ask more questions.
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