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Question

S-Corp Management Service?

  • May 2, 2024
  • 2 replies
  • 24 views
David Hooper

I have been using Collective to manage my S-Corp.  It’s been easy to use along with HB, but it seems expensive.  Does anyone have a SaaS or DIY system they can recommend?  I’ve used TurboTax in the past to file my business and personal taxes which seems a good price.  I’m just not super happy paying what I’m paying to Collective to manage the S-Corp stuff and I was hoping fellow HB users might have some advice?   I don’t want to hire a bookkeeper.  I’m trying to keep my costs down and automate this stuff if possible.

 

BTW, this is NOT meant as an advertisement in any way.  Quite the opposite.

      2 replies

      Regina Martinez
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      You could potentially just have Gusto payroll, Quickbooks/Zero subscription, then make your own spreadsheet to calculate monthly mixed use reimbursements. And, use TurboTax’s full service business for filing taxes.


      I use Collective for my S Corp as well. To be honest, it’s a pretty cheap service for payroll, accounting and bookkeeping. Plus, they make monthly reimbursement calculations a breeze. I can’t believe I’m about to say this but I look forward to doing mileage monthly so I can pay myself that sweet tax free reimbursement $$$$…not to mention the monthly ‘bonus’ distributions. I don’t think Collective offers as quality bookkeeping (I was spoiled by my last kickass accountant!) but it’s decent for a budget friendly option. Doing all of that without a service makes my head hurt. I’m happy to outsource to Collective.

       

      David Hooper

      Thanks Regina, I think that’s good advice.  It’s nice that Collective does both my personal and corporate taxes.  My one complaint is their support.  They are slow to respond and I got a tax advisor from Texas who wasn’t familiar with California taxes…  In the end I think I was just asking to make sure I’m on the right track.  

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