Vision Statement
We, at Crayons Interiors, believe that every child is like impressionable play dough in his/her early years. In addition to everything else that shapes the kind of person a child grows to be, we believe that the child’s ‘space’ deeply influences his/her vibe and thoughts and leaves an inerasable impression on his/her mind. Crayons Interiors envisions to provide customised interior designing services in the ‘kids’ segment, which would include within its ambit furniture, furnishings, accessories and tid-bits that would bring life to a child’s four walled space and make it all rainbows and sunshine.
Mission Statement
Only a happy child will grow to be a happy human, and happiness can never be overrated. Crayons Interiors aims to help parents in raising happy children by making the kid’s space a …show more content…
The entire net income of the LLC is subject to this tax. Double taxation (once to the LLC and again to the shareholders) may be avoided by electing to be treated as an S corporation using Form 2553. Pursuant to this, the LLC remains a limited liability company from a legal standpoint, but for tax purposes it will be treated as an S corporation. While members of an LLC are subject to employment tax on the entire net income of the business, only the wages of the S corp shareholder who is an employee are subject to employment tax. The remaining income is paid to the owner as a "distribution," which is taxed at a lower rate, if at all (sba.gov).
The chosen legal structure will provide Crystal Interiors with the limited liability features of a corporation, and at the same time, the tax efficiencies and flexibility of a partnership. The shareholders shall be paid reasonable compensation to avoid IRS’s attention towards shareholder red flags like low salary/high distribution combinations, that may reclassify distributions as
We, at Crayons Interiors, believe that every child is like impressionable play dough in his/her early years. In addition to everything else that shapes the kind of person a child grows to be, we believe that the child’s ‘space’ deeply influences his/her vibe and thoughts and leaves an inerasable impression on his/her mind. Crayons Interiors envisions to provide customised interior designing services in the ‘kids’ segment, which would include within its ambit furniture, furnishings, accessories and tid-bits that would bring life to a child’s four walled space and make it all rainbows and sunshine.
Mission Statement
Only a happy child will grow to be a happy human, and happiness can never be overrated. Crayons Interiors aims to help parents in raising happy children by making the kid’s space a …show more content…
The entire net income of the LLC is subject to this tax. Double taxation (once to the LLC and again to the shareholders) may be avoided by electing to be treated as an S corporation using Form 2553. Pursuant to this, the LLC remains a limited liability company from a legal standpoint, but for tax purposes it will be treated as an S corporation. While members of an LLC are subject to employment tax on the entire net income of the business, only the wages of the S corp shareholder who is an employee are subject to employment tax. The remaining income is paid to the owner as a "distribution," which is taxed at a lower rate, if at all (sba.gov).
The chosen legal structure will provide Crystal Interiors with the limited liability features of a corporation, and at the same time, the tax efficiencies and flexibility of a partnership. The shareholders shall be paid reasonable compensation to avoid IRS’s attention towards shareholder red flags like low salary/high distribution combinations, that may reclassify distributions as