Incfile offers many different entity types including LLCs, C-corporations, and S-corporations. The service can also help users obtain a certificate of authority for businesses that need to operate in states outside their registered state.
The price for incorporating a business with Incfile starts at $0 (plus state fees). Users can choose to add-on services like bookkeeping and registered agent services.
How to Start a Business
Starting a business is an exciting prospect, but it’s also a process filled with legal requirements and financial considerations. Many entrepreneurs jump into the competitive marketplace without properly preparing themselves or covering all of the necessary bases. The resulting mistakes can prove costly, especially when it comes to satisfying legal requirements.
Choosing the right legal structure is one of the most important steps you must take before you start a business. This choice will impact everything from how you register your business to how you pay taxes. You must also choose a business name, which will be what you call your company on all official documentation and registrations.
A great name is a memorable one that conveys your business’s mission, values, and purpose. It’s also a crucial factor for creating brand recognition, and it can help you attract customers and investors. Finally, you must register your business and obtain an employer identification number (EIN), which is a tax ID similar to a social security number.
Legal Requirements
The process of incorporating your business involves a lot of paperwork and deadlines. You may be required to file for a variety of legal requirements at local, state, and federal levels. Keeping up with regulations can be a hassle, but it’s essential to ensure that you don’t run afoul of the law.
Incfile offers a streamlined business incorporation service that includes filing for an LLC, C-Corporation, S corporation, and nonprofit entity. Their website provides a convenient order process and updates the cost of your services as you progress, making it easy to stay informed about how much you will pay for the various packages offered.
The company also offers a number of additional business services, including drafting an LLC Operating Agreement (which creates guidelines for the entity) and obtaining a Business Tax Number (EIN, similar to a social security number). Customers can opt for a Gold plan that adds a year of free registered agent service to their LLC package.
Taxes
Depending on your type of business, you may need to file for tax returns and prepare various forms. Incfile offers several packages for these services ranging from simple LLC filings to full-service incorporation. They also have a large library of helpful resources for business owners, including entity guides, state guides and an annual report due date tool.
The company’s primary packages offer flat prices that are competitive with other online business filing providers. However, customer reviews on sites like Trustpilot and Yelp are mixed, with many complaining of severely delayed filings or unhelpful customer service.
The Gold package offers additional services, such as banking resolutions and business contract templates. These add-ons are not as beneficial as registering for an EIN yourself, which can be done for free through the IRS in minutes. Platinum includes a domain name and business email, but this can be purchased much cheaper with specialists elsewhere. It also does not include the setup of a website, which can be done for an additional cost with other services.
Business Planning
When you have an idea for a new business, it’s time to start planning. Incfile offers a range of business services, from creating an operating agreement to filing annual reports. It also has a number of helpful resources for entrepreneurs and small business owners, including a DIY email course, state guides and entity quizzes.
Keeping up with regulations is crucial for any small business. Depending on your industry and location, you may need permits, licenses or tax registrations at the local, state or federal level. Incfile helps you navigate the complexities of this process by providing a search and research package for a fixed fee.
Incfile’s Gold package is priced at $0 (minus state fees) and includes additional services, like a free business banking account and operating agreement. It also includes lifetime company alerts and a customizable online access dashboard. The Platinum package is more expensive, but it does include a few services that add value, like drafting a banking resolution and business contract templates.
