While we are organized internally as a worker cooperative, Wholehearted Bookkeeping’s legal entity is an LLC taxed as a partnership. Because of this, we need to pay ourselves and pay taxes as we would in a regular partnership. Since worker owners are not considered employees, we cannot simply pay ourselves using a payroll service provider and issue ourselves W-2s at the end of the year.
Since our situation is a little complicated, we have established a system for paying ourselves that allows us to take into account the various factors that affect our pay as owners. Given that many worker cooperatives are in a similar situation, we have recorded a training to help others who are facing similar challenges.
We offer live trainings and consulting on this subject - you are welcome to reach out to us about this at wholeheartedbookkeeping@gmail.com. However, the below is a good place to start for small businesses and cooperatives that are looking for guidance on this topic.
What does this package include?
- A recording of our training (approx 1 hr video)
- Access to our customizable spreadsheet tool
- Up to 30 min of our time with any questions you may have regarding the tool (either through email communication or via Zoom)
English Version ($100 - 300 sliding scale)
Spanish Version ($50 - 300 sliding scale)