Summary: MyCorporation is a company that offers services related to the registration of a corporation and LLC for your business. If you are a business owner that wants to create a corporation or an LLC without the hassles, then this company can help you to do that. There are many advantages for business owners when they decide to create their own corporation or LLC, such as legal advantages, IP protection, tax advantages, and the separation of personal assets and business assets.
For many people, building their own corporation seems to be a very complicated thing to do. There are various documents that you have to fill, and there are various legal requirements that can take a long time for you to complete as well. Whether you are trying to start a corporation or an LLC (Limited Liability Company), it’s always a struggle for many people to do it. If you think that your business is growing, and you want to take it a step further, then starting your own corporation or LLC is the right thing to do.
The good news is that a specialized company like MyCorporation can help you to handle all the things necessary to build your own corporation. It’s a kind of a middle man company that offers services to business owners to incorporate their business or create their own LLC in the simplest and easiest way. This company helps you in every step of the way. It is a go-to place for any business owner who wants to expand their business without having to deal with all the hassles involved in it. Deborah Sweeney, the CEO of MyCorporation is here to share her story about this business.
The Beginning Of the MyCorporation As A Business
The start of MyCorporation under the leadership of Deborah Sweeney as a CEO has everything to do with her journey with this company. At first, she was asked by her client to become an in-house staff of MyCorporation, which was a small company owned by her client. Along the way, this company was acquired by Intuit, and Intuit made this company as its own division, with Deborah Sweeney being chosen as the General Manager of the new division. However, in 2009, Deborah took charge of the company and became the CEO of MyCorporation after separating it from Intuit and made it a private company.
“I was originally the GM of the MyCorporation.com division within Intuit. I was originally a partner of a Los Angeles based law firm. I went in-house to MyCorporation, which was one of my clients. After MyCorporation was acquired by Intuit, I was appointed the GM. We spun the business out of Intuit and took it private under my leadership back in 2009,” Deborah said.
The Common Mistakes People Make When Incorporating Their Business
As MyCorporation mainly helps business owners who want to start their own corporation or LLC, this company already has an extensive experience about what people should and shouldn’t do when incorporating their business. First of all is the simplicity of this process. Most people think that incorporating a business or forming an LLC is a really complicated process. That’s why they don’t want to do it. Many of them also don’t realize that there are many advantages that they can get when they decide to incorporate their business, such as tax advantages and the separation of assets.
The second thing is that most people are doing the process wrong. They usually don’t check whether their corporate name is available at the state, and they try to get their tax ID in a rush. Regarding this matter, Deborah said, “Most people don’t realize that incorporating or forming an LLC is simpler than they think. There are so many advantages – tax advantages, the ability to take loans in the name of the business, a level of professionalism, and separation of personal and business assets. Where people go wrong is they do not check to make sure their corporate name is available at the state and they try to get their TAX ID before everything is lined up at the corporation. Nothing is insurmountable. When you work with a company that knows how to work with the state, you can easily incorporate or fix any errors with the entity. It’s easier to do it right from the start, but usually the states and IRS want to make things right, so things can be adjusted down the road, if needed.”
What Makes MyCorporation Different From The Rest
When you take a look a little bit on the internet, you can see that there are some other companies that offer similar services as MyCorporation. However, this company is known to be one of the best companies that offers this type of service in the US. The main benefit that the customers can get by partnering with MyCorporation is the customer service. The customer service offered by this company is top quality, and they always listen to the feedback from their customers.
The CEO of MyCorporation has her words about the customer service quality of this company. “MyCorporation offers top-notch customer service. We believe that through great customer service, we have been able to build a strong, growing and loyal customer base. We provide this service to all customers and partners, and this truly sets us above the rest. We make a difference by listening and accepting feedback from customers.”
The Deciding Factors For Someone To Start Incorporating Their Business
One of the advantages of having your own corporation or LLC is that you can easily separate your personal assets and business assets. This is important to minimize the risk of your business, and this can help you to create certain barriers between each of your assets. The deciding factors for people to start their own corporation or LLC are varied. However, the separation of personal and business assets should be the primary reason. Also, there are other advantages such as various tax advantages, which should be the deciding factors for building a corporation as well.
Deborah said, “Incorporating is based on a desire to separate personal assets from those of the business, or those assets of a partner. It, in essence, creates an independent entity where the cash flow and debt are separate from the individual owners. This can serve to mitigate risk. Similarly, it creates a barrier between business partners so that the dealings of one business partner and the other are independent of the corporation or LLC. Forming a corporation or LLC can also enable business owners to more easily obtain credit or loans. Forming a corporation also enables a business to save on taxes – S-Corps that puts its owners on payroll can save on FICA taxes, for example. There are also additional write-offs for business owners with a corporation. The corporate tax rate may also help business owners to save on income taxes.”
IP Protection Services Offered By MyCorporation
MyCorporation offers various services based on different pricing plans. With each pricing plan, you get different features, and each feature can help make it easier for you to build your own corporation or LLC. The good thing about this company is that it offers IP protection services, such as branding and trademark protection for your company. In this way, you can protect all intellectual properties that belong to your company, and get the full copyright ownership for it.
Deborah provided an answer when we asked regarding the IP protection services provided by MyCorporation. “Yes, we offer trademark and copyright filings to protect brands, logos and slogans. The copyrights protect works of art, such as the content of a website, a book or movie, or even a sculpture. MyCorporation offers all of those filings – both with the US Patent and Trademark Office and with the US Copyright Office,” Deborah said.