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My Company Works vs Corporate Creations

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MY COMPANY WORKS

Formerly known as MyNewCompany, Nevada-based MyCompanyWorks has helped over 50,000 companies with incorporation since their start in 2001. Although they don't work with the same volume of clients as some of the bigger names in the industry, this provider has established itself as a trustworthy, skilled service for those who need help in creating their businesses.

In fact, MyCompanyWorks is so confident that they can meet your needs, they offer a 100% satisfaction guarantee. If you are unsatisfied with their business filing services within the first 90 days, they will either work to fix the problem or give you a full refund: the choice is yours. Chances are good, however, that you won't need to take them up on it. MyCompanyWorks has thousands of positive reviews, including hundreds of glowing compliments from very satisfied clients.

One unique resource offered by this provider is the Startup Wizard. Once you've formed your corporation, this step-by-step online tool will cover all of the procedures you need to follow to properly organize your business (such as getting a business license or resale permit). You'll get a weekly automatic email reminder of your remaining steps, or you can download them as a PDF. And, the Wizard tracks your progress as you complete your assignments, ensuring that you don't make any costly problems as you set up your new company. Very few company incorporation services go to those lengths to help you keep your legal obligations unless you pay for hands-on help, so this is a nice perk.

While they don't have a similar tool to walk you through the initial stages of incorporation - like which type of business entity should you choose - they do have many helpful articles that will explain your options and help you decide. You'll find these resources and more at the bottom of the page, under the headings of Start a Company and Manage a Company.

MyCompanyWorks offers three packages for company incorporation:

  • Basic: starting at $79, this package includes unlimited name availability searches, preparation and filing of Articles of Incorporation, personalized organizational minutes and corporate bylaws, same-day business processing, unlimited phone/email support, free company alerts, access to scanned documents online, and lifetime access to your online account. You can add a la carte services like obtaining a federal tax ID, registered agent service ($99/year), or rush filing service.
  • Entrepreneur: priced at $199, this tier of service includes the features of Basic, along with obtaining a federal tax ID, a corporate kit/seal/stock certificates, and lifetime business forms/tax guide. You'll have to decide if those extra features are worth the additional $120.
  • Complete: a fee of $279 gets you all of the included benefits of the Basic and Entrepreneur packages, while adding a year of registered agent service (a savings of $19 over the regular yearly $99 fee when purchased separately).

We were very pleased to see that MyCompanyWorks has a good reputation. First, their A+ rating with the BBB, while not unusual among the companies in our review, is always a positive sign. Better yet, their actual customer reviews are almost universally perfect scores. One of the most-referenced reasons for client compliments of this business is their lightning-fast customer support team: most inquiries via email or voicemail get a response within 20 minutes during regular business hours (7:30A-4:30P PST, Monday through Friday).

Because of their great customer feedback, attention to quality customer service, and helpful tools for customers after incorporation, MyCompanyWorks gets our recommendation as a solid choice for company formation services.

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CORPORATE CREATIONS

Corporate Creations is based in Florida and has been a part of the company incorporation industry for more than 20 years. As an A+ rated entity with the Better Business Bureau, you can be assured that they have a trustworthy reputation.

Corporate Creations does not offer an easy-to-use website that shows prospective clients their options in a clear way - through a chart, a list of different packages, and so on. Instead, when someone clicks on the Incorporation tab at the top of the page, they're taken to a series of dropdown boxes and options to click through, to determine what features will be needed. This made it challenging to compare "apples to apples" with other company incorporation providers, especially because Corporate Creations automatically include any required state fees in their pricing. State fees can vary widely, from under $300 in many states to more than $600 in places like Nevada - so not being able to quickly see what their own services cost was frustrating.

But, they also offer a Price Match Guarantee: if you see a lower price for the same service with another provider, they'll match it. Or, if you've already ordered services through Corporate Creations and then find a lower price within 30 days, they'll refund 100% of the difference. This is one of the only services in our review to offer that kind of guarantee.

We're not completely sure which services this applies to, so it might be worth it to ask. For example, they provide registered agent service free in the first year, but every year thereafter you'll pay a fee of $299. Given that many of the top-rated incorporation services we reviewed only charge $99-$129 per year, that would be a price match worth requesting.

Compared with other online incorporation services, Corporate Creations offers very little guidance regarding the process: on the Incorporation page, there are no convenient "Which one is right for my company?" tools or much information to help a small business owner to understand what they need. We did take a look through the Resources tab, but even there we found just a handful of articles regarding many aspects of owning a business, not just incorporation. (There was also a link there to someone's eulogy from 2005, which struck us as odd.)

We really liked the few customer reviews we were able to find, and the company as a whole seems to have an excellent approach to serving their clients. But, when it comes to keeping up with the competition in the online world of company incorporation, Corporate Creations isn't quite there. We hope to see more developments from them in the future, because it looks like they do help many people to incorporate their companies smoothly and affordably - just not through an intuitive online experience.

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Best Company Incorporation

To help you find the Best Company Incorporation, TopConsumerReviews.com provides you with an in-depth comparison of My Company Works and Corporate Creations.

Who has the best Company Incorporation Service? Are you a small business owner looking to protect yourself by separating your business from your personal assets? Or maybe you're a freelancer who wants to grow from a sole proprietorship to an agency, and you'd like to have the legal and brand benefits that come from adding "Inc." to your business' name?

Company Incorporation is a common strategy used in these situations - and many others - as business owners seek to take the next steps in growing their brand and protecting their assets. Setting up your business as a corporation can provide many benefits through creating a legal entity that is separate from its members: in other words, you can't be held legally responsible as an individual for the debts of your business.

There are several different types of corporate entities that business owners use for these purposes - Limited Liability Companies (LLCs), S-Corporations, C-Corporations, Non-Profit Corporations, and so on. The best way to choose the right corporation type for your business and also get it put into place in the most affordable way possible is to work with a Company Incorporation service. These providers offer the same guidance, document preparation assistance, and filing help as you would receive by meeting with a local attorney, but for fees that can often be thousands of dollars less.

As you consider the various Company Incorporation services currently available, you will want to keep several criteria in mind:

  • Services. What is included in the fees you'll pay? Most providers have several levels of incorporation packages, from basic to full-featured. Can you get all of the add-ons you might need, like filing your Articles of Incorporation with your state?
  • Cost. What will you pay for your company incorporation process? Is it a flat-fee, or are there a lot of extra charges? Bear in mind that every state has filing fees that are independent of the incorporation service.
  • Reputation. How many companies has the service incorporated? What do those clients have to say about the ease or difficulty of working with the provider to get everything prepared and filed? Does the incorporation service have a history of satisfied customers?

TopConsumerReviews.com has reviewed and ranked the best Company Incorporation services currently available. We hope this information helps you incorporate your business right away!



Why Should You Incorporate Your Business?

Perhaps you've been in business for a while and feel you want to formalize your status, legally and otherwise. Perhaps your business has been local to date, but you are looking toward operating in more than one state. Maybe you are competing with larger companies in the same niche and feel a change in legal status will bump up your credibility. Or maybe you just like the sound of the syllable "Inc." after your business name.

There are myriad answers to the question, "Why should you incorporate your business." Following are just a few:

Protect Your Assets
If you've owned a sole proprietorship, you know all too well that not only does the buck stop with you relative to operations, you're also on the hot seat when it comes to financial and legal complications that may arise. If a sole proprietorship stumbles under the weight of excessive debt or is taken to court, it's the proprietor's personal as well as business assets that are at risk. A corporation is a legal entity all its own. If your company faces legal issues or cannot meets its obligations, your personal assets do not come into play.

Gain Tax Advantages
When you incorporate your business, the IRS allows you to get a tax ID number for your business, establishing its status as a separate entity relative to tax liability. In fact, a corporation files its own tax return -- paying taxes on its profits -- at a complete remove from your individual return.

Separate tax identity alone can be enough justification for some to incorporate their businesses. Keep in mind, though, that when you incorporate, you and any other owners also become shareholders. If your company distributes dividends, you must pay taxes on that dividend income when you file your personal return.

Formalize Status
When you incorporate, you must make your business known to state, and sometimes local, authorities. Regulation specifics vary by state, but nearly universally, you must file articles of incorporation with your state's Secretary of State's office. In addition, you will have to create and record by-laws. Moreover, you'll have to set up a calendar of regular shareholder meetings; the minutes from those meetings must be recorded and kept on file at your company. The shareholders are required to elect a board of directors who must also meet regularly to make important decisions about the firm. Not surprisingly, establishing a corporate structure typically requires engaging the services of a lawyer or law firm.

Make a Name (or Two) for Yourself: State and Local Recognition
One key step toward incorporation is filing a business name with state and/or local authorities. If you want to do business under more than one name, you'll also need to file one or more fictitious business name statements. For example, if your company is called Snow Corporation, and you want to sell skis under the name "Speed Plus Company," you have to submit the appropriate paperwork to the relevant authorities.

Raising Capital
Finally, incorporating your business makes it possible to raise capital by selling shares to stockholders. Relying solely on bank or personal loans or company profits for financing will be a thing of the past.

The decision to incorporate should be a deliberate one. The administrative costs alone should be enough to deter you from entering into this new status lightly. Should you decide to take the plunge, incorporating could be a crucial step in your company's journey.

 



Company Incorporation In The News

Why Skechers USA, Inc. Stock Plunged Today

Shares of Skechers USA, Inc. (NYSE:SKX) were down 23.3% as of 11:30 a.m. EDT after the footwear specialist announced mixed second-quarter 2018 results and disappointing guidance. Quarterly revenue cli...

Published:  Fri, 20 Jul 2018 09:41:05 GMT



Republic Bancorp, Inc. Reports a 56% Year-Over-Year Increase in Second Quarter Net Income

LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the "Bank" ). Republic Bancorp, ...

Published:  Fri, 20 Jul 2018 05:36:00 GMT



HarborOne Bancorp, Inc. Announces 2018 Second Quarter Earnings

HarborOne Bancorp, Inc. (the "Company" ) (NASDAQ: HONE), the holding company for HarborOne Bank (the "Bank" ), announced net income of $3.1 million, or $0.10 per basic and diluted share, for the second ...

Published:  Fri, 20 Jul 2018 05:46:00 GMT



Sykes Enterprises, Incorporated to Webcast Second-Quarter 2018 Financial Results

TAMPA, Fla., July 20, 2018 (GLOBE NEWSWIRE) -- Sykes Enterprises, Incorporated ("SYKES" or the "Company" ) (NASDAQ:SYKE), a leading provider of multi-channel demand generation and global customer engag...

Published:  Fri, 20 Jul 2018 08:40:00 GMT



Why Aimia Inc. (TSX:AIM) Is Soaring Over 10% Today

Many people wrote off Aimia Inc. (TSX:AIM) after the company behind the Aeroplan lost its partnership with Air Canada earlier this year. The deal is set to expire in 2020, but many investors have sold ...

Published:  Fri, 20 Jul 2018 09:00:34 GMT



RushNet, Inc. (OTC Pink: RSHN), Announces Appointment of CEO, Chairman of the Board and Chief Medical Officer

About RushNet, Inc. RushNet, Inc. is in the early stages of bringing value ... of future performance and are subject to risks and uncertainties that could cause the company's actual results and financ...

Published:  Fri, 20 Jul 2018 07:09:00 GMT



Blackbird Energy Inc. Provides Operational Update

CALGARY, Alberta, July 20, 2018 (GLOBE NEWSWIRE) -- (TSX-V:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company" ) is pleased to provide an operational update including planned drilling activity, an ...

Published:  Fri, 20 Jul 2018 04:09:00 GMT




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