In this review, we delve into the process of setting up your LLC with Ink Authority. Before we begin, please note that there are affiliate links in the description of this video. I earn a commission when you use these links, but I aim to be as transparent as possible throughout this review. By the end of this video, I hope to save you at least $300, potentially even more, depending on the options you select when setting up your LLC.
Ink Authority: Sign-Up Process and Hidden Costs
Ink Authority offers a basic package that includes free LLC filings with three options: a free personal banker, free website and business email, or free 24-hour processing. Here’s my take on these options:
- Free Personal Banker: Not a significant benefit as you can set up banking yourself.
- Free Website and Business Email: This is free only for 90 days. After that, the domain costs $10/month and the website costs $20/month, totaling $360 per year. Setting up a basic website can be much cheaper using other services.
- Free 24-Hour Processing: This is a valuable add-on, especially as many states charge for expedited processing.
Upsells and Subscriptions
Ink Authority has several upsells and subscriptions that can significantly increase your costs over time.
Ink Success Advisor
This service is offered for $17 but is a recurring fee. The cost after the first year is unclear, which is concerning. The service aims to help with various business-related queries, but many of these can be managed by a good CPA or a payroll service like Gusto, which I highly recommend. Gusto offers excellent support for payroll-related issues and often provides promotional incentives.
Registered Agent Service
Ink Authority provides a registered agent service free for the first year, valued at $179/year thereafter. This service handles important documents and communications for your business, ensuring privacy and compliance. While this is a good offer, other services like IncFile also provide the first year free but at a lower annual cost thereafter.
Cost Analysis
Using our LLC cost calculator, you can see the total costs of using various services over five years. For example, Ink Authority might seem cheaper initially but can cost significantly more due to hidden fees and recurring charges.
Comparison with Competitors
- ZenBusiness: $199/year for a registered agent.
- LegalZoom: $249/year for a registered agent.
- Tailor Brands: $199/year for a registered agent.
- Northwest Registered Agent: $125/year.
- IncFile: $119/year after the first free year.
Annual Reports and Compliance
Ink Authority does not provide clear pricing for filing annual reports, which is a red flag. Failing to file these reports can result in your LLC becoming inactive and losing its legal protections. Competitors like IncFile charge a clear $99/year for this service, plus state filing fees.
Conclusion
While Ink Authority offers some initial free services, the long-term costs can add up due to various upsells and unclear pricing structures. Competitors like IncFile and ZenBusiness provide more transparent and often more cost-effective options.
Affiliate Disclosure
Using the affiliate links in this video supports our channel and local community, as we donate $20 to charity for each LLC set up through our links. These include links for Ink Authority, IncFile, Gusto, and others.
Additional Resources
For a comprehensive guide to setting up your LLC, including crucial concepts like "piercing the corporate veil" and "co-mingling funds," check out the complete guide linked on the screen. Also, see our review of IncFile to understand its dashboard and services better.
No comments