FAQs

Collective gives you slick dashboards and clean reports — but not much in the way of real human connection. At SingleTrack, you don’t get dropped into a faceless system. You get a team of four real people — Matt, Joe, Carol Ann, and Bryan — who actually know you and your business. We’re the ones doing the work, answering your questions, and making sure you feel supported. No ticket numbers, no “Collective Support,” just your accounting team on speed dial.

Easy — schedule a discovery call. We’ll chat about your business, recommend the right package, and get your onboarding rolling. Within 30 days, your books are clean, your portal is set up, and you’re already breathing easier.

The Core 4 is your financial starter pack: clean books every month, your annual corporate tax return, a mid-year Annual Financial Checkup, and unlimited support. Think of it as everything you need to stay sane at tax time — and nothing you don’t. Add extras anytime, pay only for what fits.

Recurring services like the Core 4 Package and Add Ons are billed monthly with a one year commitment. One time services like payroll onboarding and S-Corp election are billed on completion or acceptance. Our proposals clearly show what’s billed and when. No hidden fees, no surprises.

Because the IRS loves details almost as much as dogs love peanut butter. We only ask for what’s required to keep you compliant and protected. That’s why everything goes through secure portals and encrypted vaults — never email. We get it, it’s a lot, but it keeps you safe and your business squeaky clean.

Absolutely. We’re built to work online — your accountant is basically a Zoom call away.

Nope — while we specialize in service-based creatives and professionals, we’re open to working with all kinds of entrepreneurs. Let’s chat and see if we’re a fit. (Spoiler: we probably are.)

Because TurboTax won’t stop you from making a bad choice. It won’t strategize, it won’t plan ahead, and it won’t tell you “um, that deduction is not a good idea.” We will.

Because watching the clock isn’t fun for anyone. We charge flat, transparent prices so you can actually *talk* to us without worrying the meter’s running.

First, take a deep breath — you’re not in trouble. These letters are more common (and less terrifying) than they look. Just forward the notice to us and then go relax — your team has your back, and we’ll handle it from here.

Like? No. Love? Yes. Luckily, we live in them so you don’t have to.

You can run your business as “just you” (that’s called a sole proprietorship), but it means zero legal separation between your personal life and your business. An LLC, or Limited Liability Company, puts a layer of protection between the two — and also makes it easier to open business bank accounts, get paid, and look legit to clients. Legally, an LLC is like Clark Kent putting on the glasses — suddenly it’s a whole different person in the eyes of the law. But to the IRS? They’re like, ‘nice try, Supes, we know it’s still you.’”

An S-Corporation (S-Corp) is a tax status your LLC or corporation can elect with the IRS. It doesn’t change your business structure — just how you’re taxed. The big win? Instead of paying self-employment tax (15.3%) on all your profit, you pay yourself a reasonable salary through payroll and only that portion gets hit with payroll tax. The rest avoids those extra taxes. Translation: big tax savings, legally. Think of it like Netflix: you pay a monthly subscription fee (your payroll taxes), but once you’ve paid, you can binge as much profit as you like without extra charges.

Two big things shift: you’ll file a separate corporate tax return and you’ll run payroll for yourself. The trade-off? Lower self-employment taxes and bigger tax savings. To put it into a haiku: little more structure, a lot less wallet fatigue, greater happiness

Bookkeeping is simply tracking what money comes in to your business and what money goes out of your business. Done right, it keeps your financial story organized so tax time isn’t a guessing game and you know how your money is getting spent.

Bookkeeping tracks what comes in and what goes out — the day-to-day receipts and reports. Accounting takes that info and uses it for tax returns, strategy, and compliance. One’s the ingredients, the other’s the recipe. You need both to avoid a half-baked mess.

You *could* skip bookkeeping…if you also like stress during tax season, IRS penalties, surprise tax bills, and zero clue where your money went. Bookkeeping gives you visibility, keeps you compliant, and makes sure tax season isn’t a mystery novel. “Where did the receipt go!? Was that Amazon purchase a piece of equipment or office supplies!?” In short: it matters because your business (and sanity) depend on it.

We pull transactions from your bank and credit cards, reconcile monthly, and send you clean reports showing your business profit and activity. Your accountant is happy and so are you. Simple as that.

Bookkeeping is completed monthly for the prior month. For example, July’s transactions are reconciled in August, and your July reports are sent to you on August 31.

Magic 8 Ball says: Reply hazy, email us to discuss.

Don’t panic — cleanup is normal. We’ll get your books caught up, squared away, and back on track. No judgment here — life happens, and we’ve seen worse (trust us).

Your business won’t — but you will! S-Corp profits “pass through” and land on your personal tax return. The company itself doesn’t write a check to the IRS, but you, the owner, do. It’s less scary than it sounds — and we’ll make sure you’re ready when tax time comes.

It’s Social Security and Medicare taxes (15.3%) assessed on certain types of income (like all the profit you’re raking in if you aren’t already an S-Corp). Electing S-Corp status saves you money by reducing this tax. Don’t stress — we’ll guide you so the IRS doesn’t keep you up at night.

An Accountable Plan is how your S-Corp turns business related items paid by you personally (like home office, mileage, or your cell phone) into legit business deductions. You track what you paid personally, we crunch the numbers each quarter, and your business reimburses you. Done right, it’s the IRS-approved way to say, “Yes, my car and my Wi-Fi actually help me run this thing.”

Tax Planning is an add on where we look at your full financial picture (both personal and business) project your income tax bill, and find strategies to lower it. With it, you’ll never be surprised by taxes again — you’ll know what’s coming and how to reduce it.

We’re powered by QuickBooks Online (for books), Karbon (for workflow), and Gusto (for payroll). Think of them as the accounting Avengers — each one good alone, unstoppable together.

No emailing Social Security numbers around here. We use encrypted vaults, secure portals, and 2FA logins to keep your info locked down. Basically, Fort Knox vibes — minus the gold bars.

Karbon is our client portal and workflow system. It’s where we send requests, share files, and keep everything secure and organized. Think of it as mission control for your accounting. Beam me up Scotty!

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