When you find yourself in the position to start a business, you are going to have many different things to take into consideration. Because there will be so many things on your mind and tasks on your plate, you never want to have to worry about all of the various legalities that will be involved with the ins and outs of a business startup. You need to find the right help, but where can you turn?
This is where MyCorporation can come in very handy as one of the top business filing services available today. With all of the options that are out there throughout the industry, it can be difficult to determine all of the differences with one company to the next. When taking a look at this review of MyCorporation, you will be able to dive further into some of the specifics so that you can make an informed decision as to whether or not this is going to be the right service for you and your business needs.
As a little bit of background, MyCorporation.com is a professional corporate filing service that offers customers various turn-key solutions for any established businesses as well as would-be entrepreneurs. The unique value here is that they can take away a lot of the bureaucracy and frustration that usually comes along with building up and then running a business here in the United States. When you look at some of the different reviews that are available today, the consensus seems to be that this is a service that is just right for offering quality short-term relief for a number of administration problems. What this translates to is added value for any business owner that values their time and knows how to run a business already.
This is a company that was founded in 1997 by Philip and Nellie Akalp with headquarters located in Calabasas, California. Once they were in business for eight years, they were acquired for $20 million by a company called Intuit, who makes popular software like TurboTax and Quicken. Numerous publications like Gizmodo, Tech.co, and VentureBeat have done features on them in the past few years, and the buzz has been consistently growing.
Even though the company website states clearly that they are not licensed to be able to offer financial and legal advice to any of their clients, MyCorporation has been able to establish itself as a top competitor in the market for corporate filing services. The following information will tell you whether or not they will be the right services for you and what your business needs.
Why Should You Incorporate?
There are many people in the United States that work for themselves, and incorporation will usually feel like a natural step after working in the world as only a sole proprietor. There are a number of reasons why incorporation might in your best interest:
Tax Savings – Even if you are someone making less than $50k each year for revenue, there can be situations where going with incorporation will be a great financial option. They will take a look at the tax laws for you on a regular basis and then offload work that you will have to do to keep your corporate tax information fully up to date.
Protect Yourself – Should you be faced with some legal conflict, the prosecutors will have the ability to target any personal assets that sole proprietors have, and you might be ordered to liquidate the assets so that you can resolve the dispute. When you work to form a corporation it can build a barrier between personal assets and those of your company for added peace of mind.
Legitimacy – When it comes to potential investors, going with incorporation can help with communicating how serious you are regarding your business. When you want to raise capital to push your business forward, MyCorporation will be able to assist you with navigating the process in a fast, efficient manner.
The Services MyCorporation Provides
They work to offer businesses filing service that touch on everything across the business lifecycles. The marketing layout that they offer suggests that many customers are founders of both aspiring and new businesses that otherwise lack resources, time and interest to tackle the independent move throughout all of the red tape involved with starting up a business. This can be a frustrating process that their services aim to relieve.
There are four different package tiers that are available, which include Basic, Standard, Deluxe, and Premium. The pricing is very competitive, however, they are not the most affordable option that you will find. With that being said, if you happen to be on a tight budget as you are starting your business, they will still be an option that will not break the bank.
With the Basic plan, you are simply going to get name availability search and articles of organization with the option for adding a number of a la carte features. It may be worth it for you to pay the $30 that it will cost to go up to the next level at the Standard tier. This is a package that will give you annual reports and operating agreement, both of which are necessary for most businesses today. You will also get member certificates and a transfer ledger.
Looking further, the differences you have between the Standard and Deluxe tiers will be that Deluxe gives you registered agent service. This is a decent value for just $100. When going with a Premium package, you are going to be adding another $100 to the Deluxe tier for a cost of $299. The benefits here include the addition of MaintainMyBiz, which is a service that is smart for any business that does not have the manpower to tackle the little things.
What MaintainMyBiz does is give you a package deal for your future filings at no additional charge. There are 16 different options with this tier, which includes stock certificates, a corporate seal, and a DBA.
Along with all of the standard filing services that are available, MyCorporation will also give you options in a payroll management service by the name of PayChex. This is an outsources online solution giving you mobile support and a nice way to improve accuracy, reliability, and productivity of your entire payroll process. Because payroll is something that many small businesses have headaches while setting it up and running it properly, this can be a very helpful service. Any issues in your payroll can end up damaging important employee relationships. For many businesses, this is a value-added service that makes it all worthwhile.
The Free Stuff
The great thing about signing on with a package is that you are also going to get the benefit of a number of free services and perks. There are free name checks that you can conduct against the existing structure of any registered businesses in a given state to help save you time. You will also be able to take advantage of their complimentary consultation services for your startup if you are looking to go into the next step for founding your business, but you are not quite sure about the process.
There are also a number of free learning videos available to all first-time entrepreneurs that are looking for a bit of insight as to the fundamentals that are involved with the starting of a business and maintaining it properly. All of the content of the learning and instructional videos are professional products, and they touch on all of the major points that every business owner today should know.
The Pros and Cons
When making a decision, you will see that the pros certainly outweigh the cons with MyCorporation.com, such as:
Competitive Prices – With the Basic package, you are only going to be paying the starting price of $69, which is very affordable for businesses, especially when comparing to the other options available elsewhere. A lot of the other companies come in with initial packages starting at $99 or more.
Experience – The website boasts that they have successfully served over a million businesses today. This is impressive for sure, and it gives you a great sense of professionalism and reliability overall when considering their services.
Ongoing Support – After you have incorporated, they will offer you regular support on a continual basis through the MaintainMyBiz business tool. This is a service that begins at just $250 a year, and it is automatically rolled into the Premium package. If there is room in your budget, the use of this tool will take care of any surprises regarding compliance, and you will have all of the help you need for licenses, permits and any documents that need to be updated or filed.
Education – With all of the videos and tutorials, the Learning Center is loaded with everything that you need to help you launch or maintain your business in a hassle-free manner.
No Worries – You never have to know all of the legal aspects that are involved with incorporating a business. They will ask you some questions about your business and then take care of any of the paperwork for you.
The only downside is that they do not offer any free Registered Agent services with both the Basic and Standard tier packages. This is something where other filing services available surpass them as they are usually included in all packages free for one year.
In conclusion, if you are a small business that is faced with limited resources and time, using an outsourced legal filing company like this can be exactly what you need to take some of the stress off of your plate. Just be sure that you weigh all of your options, and you should be able to pick out the perfect package to meet your needs while staying within your budget.