Forming an LLC or other business structure can be complex, but Incfile simplifies the process. They help you choose a name, obtain an EIN (associate employer identification number), decide whether to be treated as an S-corporation for tax purposes, and more.
They have three packages ranging from free to $119 annually, with the Silver package only costing your state filing fee. The Gold and Platinum plans include contract templates, domain names, and more.
1. Save Time
The company offers an online tool that lets you determine if your business structure will save you money in taxes. It also provides an annual report filing service for $99 that can save you from costly fines if you file late.
Incfile also helps you acquire an Employer Identification Number (EIN), which is a nine-digit number that essentially functions as your business’s Social Security number. It’s not something that you can do yourself unless you go through the IRS, but it’s a valuable asset to have because it makes opening a bank account easier, hiring employees possible and allows you to file certain tax forms.
Incfile promotes these optional services at different points throughout the process, but they’re not pushy about it like some competitors are. They also provide a free year of registered agent service with the Silver package, which is an attractive perk considering most companies charge $119 a year for this service.
2. Save Money
Founded in 2004, Incfile is a company that claims to have helped over 800,000 entrepreneurs start their business. They offer a simple, one-stop business dashboard tool to help streamline all of your state filing requirements and renewals.
For instance, many states require businesses to obtain an Employer Identification Number (EIN), which is a unique nine-digit number that resembles a social security number for the business. This number allows you to open a bank account, hire employees, and file taxes. Incfile can save you the hassle of obtaining an EIN yourself by including it in their package for as little as $0 and the state fee.
They also include a free Registered Agent service, which is a legal requirement for all LLCs and corporations in most states. This is a great feature to have, but you can get a similar service elsewhere for less money. Additionally, Incfile offers premium bundles that can be more affordable than purchasing these services a la cart.
3. Stay Compliant
Every business needs to comply with state laws, including yearly reports. Incfile will take care of these important filings for you, so you can focus on your customers and the day-to-day operations of your business.
Every plan comes with a year of registered agent service included for free (with some exceptions). After the first year, they will charge your card on the anniversary date of your business filing to continue this service ($119 per year).
Incfile offers an online business dashboard that streamlines your startup by keeping you informed about order statuses and renewal deadlines. You can also access a collection of helpful tools and resources to help your business grow.
While customer feedback is mixed, most complaints relate to a lack of clear refund policies and cancellation terms. It’s important to research all services, policies and fees before paying for any service. Especially with companies that offer a variety of different services, such as business formation and registered agent services.
4. Get Help
As a one-stop shop for entrepreneurs, Incfile offers a variety of services to help you start and manage your business. The company can help you establish LLCs, C-corporations, S-corporations, nonprofit entities and more. They can also assist with other paperwork like tax documents and banking resolutions.
For example, the firm can prepare and file your Articles of Organization. This is the document that establishes your business and outlines how it will be run. They can also help you with the process of deciding on a business name and offer unlimited name availability searches to ensure that your chosen name isn’t already taken.
They can also assist with getting an Employer Identification Number (EIN). This is a nine-digit number that acts as the business’s Social Security number and allows you to open business bank accounts, hire employees and more. They can even create important documents like operating agreements and banking resolutions to set up your business for success.
