Owning your own business is a career path that millions of people dream about. The idea of being your own boss, with the freedom to do what you want, when you want, and cash in on the profits at the same time, is quite appealing to many individuals. However, turning that dream into a reality is easier said than done. One company called MyCorporation is helping to make the road easier for budding entrepreneurs, providing guidance every step of the way.
Deborah Sweeney, the CEO of MyCorporation, spoke to RewardExpert about how her company helps get businesses up and running. After all, MyCorporation has worked with over 1.1 million business owners, in its 20 years in business. “We’ve been doing this for 20 years, and we have done so many filings, so we really know what we’re doing. This helps put small business owners at ease,” said Sweeney.
Helping Entrepreneurs Face Challenges
With decades in the advisory space, Sweeney knows a thing or two about the pitfalls facing entrepreneurs. And MyCorporation is positioned to help face those challenges head on.
“The biggest challenges entrepreneurs face when starting a business is often funding related. In order to get funded or to solicit funds, this often requires that entrepreneurs have a business or corporate structure (a corp or an LLC),” she said. MyCorporation helps with that core issue, giving entrepreneurs the keys to navigating the confusing landscape of becoming a corporate structure.
Rocket Fuel for Your Business
MyCorporation provides everything you need to get a business up and running. This includes free startup consultation, a business name search, a federal tax ID number and helpful information on the different legal entities available to business owners. It also provides answers for confusing legal questions, such as the differences between an S-Corp and an LLC. “When new businesses want to form a corporation, we can help them save on time and money and avoid the hassle of trying to do the filings themselves,” said Sweeney.
Keeping Up with the Paperwork
The core of MyCorporation’s business is helping entrepreneurs with paperwork. Once a user signs up, MyCorporation will file documents for the new business on the federal, state and county levels. Documents filed include everything from federal tax forms to state ID registrations to unemployment tax forms. “This can help to take the headache off business owners. This enables them to protect their personal assets, potentially save on taxes, add a level of legitimacy and set the business owner up for the opportunity to obtain a bank loan or other investment money,” said Sweeney, who cautions that her company’s services are not a replacement for an attorney.
S-Corps Are Tops
When it comes to filings, MyCorporation sees most demands for S-Corps. According to the IRS, S-Corps are corporations that pass income to their shareholders for federal tax purposes. “Many business owners are finding significant tax savings with an S-Corporation, especially with new business tax laws that provide significant tax savings to businesses that incorporate,” stated Sweeney.
Another area that MyCorporation has branched into is trademark and copyright filings. If your business has a unique logo or other type of intellectual property, MyCorporation will make sure it is protected. “We offer the document filing service with the USPTO or copyright office. We provide tools and resources for customers so they can understand the process and make sure that the documents are filed with the federal office,” said Sweeney.
Keeping the Startups Surging
In addition to helping startups, MyCorporation also helps businesses that are already established. It offers a variety of services to maintain a business, including filing annual reports with the government, changing business details and handling the paperwork involving foreign transactions. All a business owner has to do is answer a few simple questions and MyCorporation’s software will take care of the rest.
The MyCorporation Advantage
MyCorporation’s services range from $89 at the basic level to $299 at the premium level. “MyCorporation provides awesome customer service. We go above and beyond by communicating status, working with the states and making sure we are a great resource to customers,” said Sweeney. To launch your business, head to www.mycorporation.com.