MyCompanyWorks Review: Good, But Pricey 2024

MyCompanyWorks: You Get What You Pay For

The LLC formation services you are most likely looking for are preparation and filing of your state paperwork, a fast paperwork processing time, an EIN, and some sort of personalized or customized operating agreement. MyCompanyWorks supplies three of them in its Basic plan. The only one missing is obtaining your EIN. You have to purchase a higher-priced plan for that.

And that pretty much sums up what you can expect with MyCompanyWorks. It offers some pretty beneficial services, but the pricey plans overshadow a lot of what’s good about the company.

MyCompanyWorks offers same-day paperwork processing along with a 100% satisfaction guarantee. The basic plan also includes free one-hour tax and trademark consultations, as well as free e-delivery for your documents.

It also offers other paid add-ons such as a virtual office, a “get your biz online” package of domain name, email, and website builder, and a dissolution-of-business package, too.

Good Basic Features, Lots of Pricey Upsells

Your Basic plan with MyCompanyWorks will get you the necessary LLC formation services, plus some nice included bonuses. My issue with them is that in order to get some of the same basic services offered by other companies, you have to pay more, and in some cases, a lot more.

Fast Processing Time

One of the biggest benefits you’ll get from MyCompanyWorks is that no matter which plan you buy, you are guaranteed same-day processing of your LLC paperwork provided you get it ordered and paid for by 3 p.m. Eastern. Your paperwork will be processed the next business day if you get it in after that time.

Your paperwork will be audited for accuracy and compliance, and your chosen name and at least one alternative will be researched for availability. Your account dashboard will be created, complete with your Startup Wizard – which we’ll get to in a bit – maybe even before you have dinner. All of which shortens the time between ordering your plan and filing your paperwork.

The standard filing time for your paperwork from MyCompanyWorks to your state is 10 to 12 business days. You can pay a “rush” fee that shortens the time to 8 to 10 business days.

Registered Agent Services and EIN Are Extra

The Basic plan doesn’t include either an EIN or a Registered Agent, and that’s a bit disappointing, seeing as many other services we’ve reviewed do. The fact that you may need an EIN to open a bank account can make it vital to doing business. It just seems odd to have to pay a fee nearly equal to the entire Basic plan for just that service.

And where many other services include a free Registered Agent service for at least the first year, again, MyCompanyWorks requires you to either purchase a higher-priced plan or pay a pretty hefty one-off fee. It’s a shame to have to pay extra for this service, although you can quite easily declare yourself the Registered Agent as long as you can guarantee that you’ll be available during normal business hours.

Specialized Registration Services

When it comes to other types of registration services, as well as additional LLC services, MyCompanyWorks can give you a full range. Even though only a handful of states require one, a customized Operating Agreement is included with every plan. There’s also an entire page of the website devoted to helping expat and non-US citizens with US LLC formation.

You can also use MyCompanyWorks to register an S-Corp, a C-Corp, PLLC, or a simple DBA. There’s information on the website on forming a nonprofit as well, though you should note that MyCompanyWorks doesn’t handle that process – you are linked to a professional partner’s website which does.

Premium Plan Add-On

The top-end add-on for MyCompanyWorks is the Premium service. You receive annual reports, entity monitoring to keep you in good standing, and priority support should you need help with anything business-related.

The Premium add-on also includes the ComplianceLock feature, which offers alerts for compliance tasks like meetings and tax deadlines. You also have access to a library of tax and other forms, 5 GB of storage on the company’s secure servers, and e-ledgers and e-certificates, to cut down on the paper in your paperwork.

All this incurs a fairly substantial annual fee unless you’ve chosen the Complete plan, but if you need these services, you may find it worthwhile.

Virtual Office Service Add-On

The Virtual Office service offered by MyCompanyWorks is available in California, Delaware, Nevada, and Wyoming. This includes a mailing address, a phone number with voicemail, and a fax number.

This package also includes MyCompanyWorks’ online mail management service, where your mail is scanned and uploaded for your convenience.

Things Are More Difficult Than They Need to Be

MyCompanyWorks does have a user-friendly sign-up process, as long as you are ready to register your LLC immediately. This means it can be somewhat difficult to find information on the various options and other services before you actually sign up for business registration.

From my experience, however, once you place your order and open your account, things become a lot easier and more straightforward.

Getting Started With MyCompanyWorks

Let me start by saying that if you know what type of company or even service you want or need when you click open the website, you’re better off than someone who does not. The home page assumes you are registering either an LLC or a corporation immediately and leaves the rest for you to figure out on your own.

You have to either scroll to the bottom or click open the “Start a Company” dropdown menu to find “Which Entity?” to help you choose if you aren’t already certain. In the image below, you can see both menus.

Most of the other services are hidden under the “Manage a Company” dropdown or the footer menu, which is the standard way most websites are set up, but the main homepage feature can distract from all these other options.

Things DO Get Easier After Your Order

MyCompanyWorks offers a lot for the beginner business owner, with bonuses like the free one-hour tax and business consultations and free guidebooks specific to each state. There’s also the Startup Wizard, a very helpful feature I’ve detailed below. But you have to place your order and get your account first to be able to access many of those free benefits.

Startup Wizard

Once you order a registration plan, the service becomes much easier to use. That’s because your account dashboard includes the Startup Wizard. The Startup WIzard is a customized to-do and how-to list for your business type and chosen state.

It includes all the detailed steps you need to take to properly set up your company. Startup Wizard then tracks your progress until you complete each step.

Your dashboard also offers you updates on the status of your order and your paperwork. You can keep an eye on everything in one convenient online location.

Website Issues

As I said earlier, one of the things I found annoying and complicated about MyCompanyWorks was the website itself. Many of the services don’t have prices listed, or if they do, it’s a “starting at…” price. To see the full prices and options, you have to click through to the order form.

It would be easier to use, even to determine if the company’s services are right for you, if the pricing was more straightforward and transparent.

Be Prepared to Open Your Wallet

As I said in my opening, MyCompanyWorks offers a nice set of services and features to beginner business owners. The issue is that a lot of features require you to pay additional fees.

Need a registered agent service? Pay extra for it. Want compliance assistance? Again, it’ll cost you. Prefer a virtual office? Oh, yes, that’s another fee. The list of add-ons, upsells, and higher payments means your business needs to be somewhat well-financed before you start it up with MyCompanyWorks.

Are things like Startup Wizard, entity monitoring, and the free consultations worth it? That depends on your needs. A beginner could really benefit from all the information and hand-holding MyCompanyWorks offers. For the veteran entrepreneur, however, it all seems a bit unnecessary.

The Company’s Silver Lining

For the most part, the best part of my experience in reviewing MyCompanyWorks was with its support team. The company only offers email and phone support for specific issues. It also provides all sorts of useful, helpful online materials, from free guidebooks to a rather extensive FAQ section.

I always like to test out as many avenues of support a company offers as I can. I first placed a call on a Tuesday afternoon to verify some of the information I had difficulty finding on the website.

My first call was shuttled to a message system, which promised me a call-back. Instead, I hung up and tried again, this time getting an answer on the third ring. The agent was able to answer my questions easily and professionally, and the entire call lasted about 6 minutes.

I sent an email next to my friendly agent, inquiring about MyCompanyWorks’ services in languages other than English. I had realized that this information wasn’t available anywhere on the website. Below, you can find the response I received, which was prompt but disappointing.

I say prompt because the email was answered in exactly 15 minutes. Yet it was a bit disappointing because you’d think a company that catered to international entrepreneurs would offer something better than Google translate for non-English speakers.

The online help materials are another area in which MyCompanyWorks really shines. There are free guidebooks specific to each state and for non-US-resident business owners. There’s also a blog full of useful articles, and an extensive, multi-tiered FAQ section answers questions covering everything from LLCs and corporations to “what to do next” after you form your company.