MyCompanyWorks Review (2024)
With dozens of LLC formation services out there, it gets hard to choose one that suits the needs and requirements of your business. We have put together this comprehensive review of MyCompanyWorks. In this review, we will discuss their advantages, disadvantages, features, and a lot more.
Since its inception in 2001, MyCompanyWorks has been on the sole mission of making the formation of an LLC simple, fast, and inexpensive. They have helped thousands of customers and are very popular amongst small business owners for their quality services.
We know that as an entrepreneur, things start to get confusing and overwhelming at times. With the help of the right LLC formation services, you will not have to navigate through a ton of legal paperwork. They will take care of all your needs.
MyCompanyWorks Pros and Cons
Pros of MyCompanyWorks
- Comprehensive LLC formation Packages. When you hire an incorporation service, they file your LLC formation papers and then forward them to you. Other things, such as how to set up the company, how to sign appropriate documents, holding organizational meetings, etc., are not part of the package. Without operating agreements, stock certificates, etc., you will still have a lot of legal work at your hands. However, this is not the case at MyCompanyWorks. They have comprehensive packages that not only help you incorporate your company but also provide the legal documentation necessary to get your company up and running.
- Startup Wizard Feature. As new business owners, it is very likely that you don’t know how to adapt business operating agreements, issue stocks, formulate bylaws, etc. At MyCompanyWorks, they have an interactive online startup checklist, the Startup Wizard. The wizard will guide you through all the steps required to organize a company after its formation. The startup wizard feature is part of all their packages. If you want help getting a resale permit or a business license, a startup wizard will help you. You will not have to learn complex legal procedures. Moreover, you will not have to spend hundreds of dollars hiring lawyers to complete the legal work for you.
- Affordable Prices. MyCompanyWorks is an affordable LLC formation service with plenty of additional features as services. As compared to the fees of expensive lawyers, their rates are pure relief for new business owners on a tight budget. There are no hidden fees and charges.
- Quality Customer Feedback. MyCompanyWorks has plenty of positive user reviews online on various third-party platforms. They have over 3,000 online reviews, most of which are positive. With vast experience in LLC formation, you can rest assured that your work will be done in a professional manner. If you send them an email, they will get back to you within 20 minutes or less. Most of their competitors usually take a full business day before getting back to email queries.
- Notifications and Alerts. The order process is fast and simple. You will get an email confirming your order. Moreover, you will receive notifications informing you about the status of your filing. You don’t have to create multiple accounts even if you have to place several orders. You can keep track of all your orders from a single account. What’s more, you will get notifications regarding annual filing. What we really like about them is that if you are using their services on a subscription, you will receive alerts 60 days before the renewal date.
- Free Informative Handbook. With every order, you get a free handbook that has essential details regarding starting and running a company. Moreover, you also get an annual checklist that will help you keep an eye on the legal documentation.
- 100% Satisfaction Guarantee. If you are not satisfied with their services, they have a 100%satisfaction guarantee. This ensures that either the issue you have will get resolved or you will get a complete refund without any questions asked.
- Online Account Dashboard. We know how hard it is to keep all the business documents organized and in one place. With MyCompanyWorks, you get an online account dashboard where all your documents will be scanned and uploaded. They process your order within one business day without charging extra!
Cons of MyCompanyWorks
- Registered Agent Service Only in Complete Package. Most of the LLC formation companies provide you with free registered agent services for one year when you choose any service plan. However, MyCompanyWorks provides this service only in their complete package, and not their basic packages.
- Comparatively Expensive. Even though they have affordable rates as compared to professional lawyers, other LLC formation services provide you with the same features at less rates.
Is MyCompanyWorks Excellent Value for Money?
When it comes to forming an LLC, you have two options – use a formation service or hire a lawyer. As compared to the high rates of lawyers, MyCompanyWorks is certainly affordable. However, as compared to other LLC formation services, they don’t provide a lot of dollar-per-feature value.
They don’t provide you with Registered Agent Services in every package. Other than that, they are a good formation service.
With MyCompanyWorks, you get three LLC formation packages.
Basic LLC formation Package
The first package offered by MyCompanyWorks is the Basic package which costs $79. With this package, you get LLC formation services along with a few additional features. The following features are included in this package:
- Business Name Search. Know what you want to name your LLC? What if some other entity is already using the name you selected? Well, there is no need to worry. MyCompanyWorks has access to the database of your state of formation. They will search and make sure if the name you desire is available.
- Articles of Organization – Preparation and Filing. In order to form an LLC, there are certain legal documents that a state requires. MyCompanyWorks will draft those legal documents and then file them with your state of formation.
- Personalized Meeting Minutes. To ensure that you know how to run and conduct an organizational meeting, MyCompanyWorks provides an outline for your official meetings. Moreover, there is additional space under the outline to ensure that you can take notes on the proceedings of the meeting.
- Interactive Startup Wizard. As we explained earlier, you get an interactive startup wizard checklist that outlines all the steps that come after the successful formation of your LLC.
- Business Operating Agreement. A business operating agreement is a document that outlines the hierarchical structure of your company. Moreover, it sets down a list of rules and guidelines under which your company will run. If you choose the basic package, you will get your hands on a customized business operating agreement.
- Phone and Email Support. You will have access to free and unlimited phone and email support. If you have any queries, all you need to do is pick up your phone and you will get the information you need quickly!
- Notifications and Alerts. Not only will get you get notifications when your annual filing deadline is approaching, but they will also send you alerts and notifications about all other important deadlines. If you are an entrepreneur who is looking to form an LLC and can’t afford to hire a lawyer, then this package will be good for you. However, you need to be aware that this package doesn’t have registered agent services.
The second package offered by MyCompanyWorks is the Entrepreneur package. You have to pay $1999 along with the state fee for this package. As compared to the basic package, you get three additional features including a federal tax ID (EIN).
The following features are included in Entrepreneur Package:
- Employer ID Number (EIN). As individuals, we have social security numbers. Similarly, businesses and companies need the EIN to function properly. For example, you need an EIN to open a business bank account, pay your taxes, hire employees, etc. You can get the EIN from the IRS on your own, but you will have to go through a lot of legal red tape for that. If you choose this package, you will get an EIN for your company. On the basic package, you can get this service by paying $49 more.
- Customized Seal & Organizer. Do you find it hard to keep all your documents in one place? With a customized binder from MyCompanyWorks, you will not have to worry about this anymore! Moreover, you also get a customized seal. With the help of the seal, you can give your company documentation and an official, classy look.
- Business Forms and Tax Guide. In this package, you get access to over 200+ business forms that are commonly used for various purposes. Instead of having to create them from scratch, all you need to do is customize them according to your needs and you are good to go! If you have some extra funds, then you should go for the Entrepreneur package. You will definitely need an EIN for your company, and having a qualified LLC formation service taking care of that will take a load off your shoulders.
The last package offered by MyCompanyWorks is the Complete package at a rate of $279. In this package, you get all the features present in the Entrepreneur package along with Registered Agent Services.
The services you get when you choose this package are:
- Registered Agent Service. According to the law, if you want to operate an LLC in the USA, then you have to choose a registered agent for your company. A registered agent is a person who receives all the important legal documentation from the company on your behalf.
You can become your own registered agent but if you want to keep your address off the public record, then this package is good for you. MyCompanyWorks will act as the registered agent for your company and will receive documents on your behalf and then forward them to you.
If budget is not an issue for you, and you want the assurance of having a registered agent as well, then you should choose this package.
MyCompanyWorks Customer Reviews
No matter how good the services of a company may sound, if their users are not satisfied, then you should not choose that company. MyCompanyWorks has been providing excellent LLC formation services for almost 2 decades.
They have helped over 60,000 customers and have plenty of positive reviews online. The online reviews praise the availability and professionalism of the customer service representatives. Even though they don’t have the cheapest packages, their quality is good and offers quite a few perks in the form of same business day delivery and an online account dashboard.
Is MyCompanyWorks Worth It?
Now comes the million-dollar question: Is MyCompanyWorks worth it? Unfortunately, we cannot give you a straightforward answer. If you are searching for an experienced LLC formation service and budget is not an issue for you, then you should go for MyCompanyWorks.
If you are operating on a budget and want registered agent services as well, then there are plenty of other options available in the market like ZenBusiness.
- Cost value. MyCompanyWorks don’t offer a free trial nor do they have a free basic package. Even though their costs are low, they still charge for the services they provide and only their highest end package includes registered agent services.
- Customer Service. Quality customer service is one of the selling points of MyCompanyWorks. You can reach their representatives via phone or email. Mostly, when you email any LLC formation service, they get back to you within 24 hours. If you email MyCompanyWorks, they respond as early as 20 minutes which is highly appreciable.
- Ease of Use. With the help of the interactive startup wizard, placing an order with MyCompanyWorks is very easy. Moreover, you get access to an online account dashboard where you can store your legal documents safely. Their order-filling process is easy, simple, and streamlined. Once you have selected the package that you want, it takes only 10-15 minutes to enter all the required information.
- Privacy and Security. You will have to provide your personal info along with your payment details. MyCompanyWorks has the right to use this data for marketing purposes, customer services, etc. Moreover, Google Analytics will retain your browsing data as well. Therefore, if you don’t want your personal information to be used for any purpose, then you should choose some other formation service.
Bottom Line: If excellent customer services and positive feedback hold a lot of importance for you, then you should go for MyCompanyWorks. Otherwise, there are affordable LLC formation services that you can use.
Is MyCompanyWorks legit?
Yes. MyCompanyWorks is a legit LLC formation service with almost 20 years of experience in the market. They have plenty of positive reviews online and have a 100% satisfaction guarantee.
Is MyCompanyWorks safe?
You don’t have to worry about your payment information getting into the wrong hands. They use high encryption protocols to keep your info secure.
Does MyCompanyWorks offer a guarantee?
Yes. There is a 100% satisfaction guarantee at MyCompanyWorks. After placing your order and using their services, you have 90 days to email them with a request. You will have to explain the issue you faced and return any documents that you received. If they are unable to solve your issue, MyCompanyWorks will provide you with a refund.
Are there any discounts available at MyCompanyWorks?
Unfortunately, there are no discounts available at MyCompanyWorks.
How good is the customer support at MyCompanyWorks?
If good customer support is what you are looking for then you will find MyCompanyWorks to be exceptional in this regard. They have polite, professional, and well-informed representatives. Moreover, their email response time is very fast as well.
Does MyCompanyWorks have a refund policy?
Yes. MyCompanyWorks does have a refund policy. It depends on the status of your order. You will have to pay a processing fee. If the documents have already been shipped, there will be no refund. However, they do have a 100% satisfaction guarantee and if you find any issue with your formation documents, you can put in a request.