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Last updateTue, 26 Jul 2016 9pm
Ron Rosen Jewelry’s Love Life collection: Unlike any you’ve seen

Ron Rosen Jewelry’s Love Life collection: Unlike any you’ve seen

‘Luxuriously affordable’ line draws rave reviews a...

Retailer Roundtable:  At mid-year, how has 2016 been so far and what’s ahead?

Retailer Roundtable: At mid-year, how has 2016 been so far and what’s ahead?

At mid-year, how has 2016 been so far and what’s a...

Evans Jewelers creates a local “Destination” hot spot

Evans Jewelers creates a local “Destination” hot spot

“I cannot say enough wonderful things about Evans ...

ASHI launches Fine Jewelry catalog

ASHI launches Fine Jewelry catalog

ASHI is pleased to announce the release of its new...

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ISG Global Network introduces Gemology Lab

ISG Global Network introduces Gemology Lab

The ISG Global Network (ISG) is pleased to introduce the ISG Gemology Lab, the latest addition to ISG’s network of gemological and appraisal services. The purpose of the ISG Gemology Lab is to provide world-class gemological services for the identifi...

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Industry Events

Industry notables join panel at GIA’s New York Jewelry Career Fair

Industry notables join panel at GIA’s New York Jewelry Career Fair

Gem and jewelry’s largest recruiting event will take place July 25 at the Javits Center

(NEW YORK) - Prominent personalities from the gem and jewelry industry will join GIA at the Jacob Javits Center in New York for the Institute’s annual Jewelry Care...

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On The Move

Southern Gates® appoints reps for TOLA region

(CHARLESTON, S.C.) - The Southern Gates® Collection is pleased to announce the addition of two new representatives to their growing sales team. Robert and Dana Douglas join The Cargo Hold in the TOLA region, bringing the best-selling Southern Gates® C...

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What's New

MJSA launches new Designer Collaborative

MJSA launches new Designer Collaborative

Appoints Andrea Hill as Designer Advocate

MJSA, the U.S. trade association dedicated to professional excellence in jewelry making & design, has announced plans to launch the MJSA Designer Collaborative, a community through which jewelry designers ...

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Featured Articles

Eager to grow, eager to please, Costar Imports realizing goal of going national

Eager to grow, eager to please, Costar Imports realizing goal of going national

With expansions to the San Francisco Bay Area and Thailand, Costar Imports has come a long way since Ram Kedia opened up shop in New Orleans back in 1988.

Costar began as a diamond wholesaler supplying independent retail jewelers in the Southeastern U...

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Latest News

ISG Global Network introduces Gemology Lab

3 DAYS AGO
ISG Global Network introduces Gemology Lab

The ISG Global Network (ISG) is pleased to introduce the ISG Gemology Lab, the latest addition to ISG’s network of gemological and appraisal services. The purpose of the ISG Gemology Lab is to provide world-class gemological services for the identification of natural and created gemstones, and their...

Readmore

AGS Laboratories Certificates for the ASHI I DO Collection

3 DAYS AGO
AGS Laboratories Certificates for the ASHI I DO Collection

Give your customers another reason to buy a beautiful bridal engagement ring from the ASHI I DO Collection, knowing that the diamond was graded by a respected independent gemological laboratory.  ASHI, in association with the American Gem Society Laboratories (AGSL), now offers a detailed Diamond Gr...

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Industry notables join panel at GIA’s New York Jewelry Career Fair

23 DAYS AGO
Industry notables join panel at GIA’s New York Jewelry Career Fair

Gem and jewelry’s largest recruiting event will take place July 25 at the Javits Center

(NEW YORK) - Prominent personalities from the gem and jewelry industry will join GIA at the Jacob Javits Center in New York for the Institute’s annual Jewelry Career Fair on July 25. The not-to-miss opening panel ...

Readmore

4th annual Rings of Strength Tour: Walking, running, biking and yoga to support Jewelers for Children

29 DAYS AGO
4th annual Rings of Strength Tour: Walking, running, biking and yoga to support Jewelers for Children

(NEW YORK) - Jewelers for Children held the 4th annual Rings of Strength Tour on Thursday, June 2, at Mandalay Bay Resort and Casino in Las Vegas. More than 160 participants assembled at 5:30 a.m. to either walk or run 5K, or bike one of two courses, a leisurely 15K route or a challenging 50K route. ...

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Southern Gates® appoints reps for TOLA region

3 DAYS AGO

(CHARLESTON, S.C.) - The Southern Gates® Collection is pleased to announce the addition of two new representatives to their growing sales team. Robert and Dana Douglas join The Cargo Hold in the TOLA region, bringing the best-selling Southern Gates® Collection to independent jewelry stores in Texas, ...

Readmore

Eaton Hudson launches new Jewelry Advisory Division

9 DAYS AGO
Eaton Hudson launches new Jewelry Advisory Division

Led by former Silverman Consultants’ team and focused on exit strategies and asset disposition

(ALPHARETTA, Ga. & TORONTO) - Eaton Hudson has announced the formation of a new division, Eaton Hudson Jewelry Advisors. Based in Charleston, SC, the division, led by the former Silverman Consultants tea...

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MJSA launches new Designer Collaborative

3 DAYS AGO
MJSA launches new Designer Collaborative

Appoints Andrea Hill as Designer Advocate

MJSA, the U.S. trade association dedicated to professional excellence in jewelry making & design, has announced plans to launch the MJSA Designer Collaborative, a community through which jewelry designers can share ideas, discover inspiration, and find th...

Readmore

Thorsten Jewelry introduces tungsten bands with precious metal inlays

3 DAYS AGO
Thorsten Jewelry introduces tungsten bands with precious metal inlays

(LONG BEACH, Calif.) - Thorsten Jewelry, a leading manufacturer of alternative metal wedding bands for men and women, is proud to launch their tungsten and precious metal inlaid wedding bands.  Tungsten rings with precious metal inlays offer the retail jeweler an opportunity to sell an alternative me...

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JA welcomes small business assistance in Economic Recovery Act

The bill includes tax and loan relief for jewelers, as well as tax credits to help boost consumer spending

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry retail marketplace, welcomes passage of "The American Recovery and Reinvestment Act of 2009," which includes much-needed small business provisions that will benefit the jewelry industry, as well as tax relief designed to get consumers spending again.

"The economic stimulus measure is a step in the right direction and will provide essential relief to jewelers during this challenging period," says JA President and CEO Matthew A. Runci. "However, Jewelers of America will continue to pressure Congress on other issues that affect our members' economic viability, such as assistance with business health care costs and passage of a Sales Tax Fairness & Simplification Act, to level the playing field between brick and mortar and Internet-only businesses."

Among the business provisions in the new law that could have the biggest impact on jewelers:

  • Small businesses can use losses from 2008 to offset profits in earlier years (any year more than two but less than six years ago) to obtain an immediate refund. The provision is limited to businesses with annual revenues under $15 million.
  • The Small Business Administration (SBA) will eliminate or reduce fees for participation in its flagship loan guarantee program, which insures banks against default by small business borrowers. The new law also increases to 90% the percentage of qualifying loans that the SBA can guarantee.
  • The new law will also allow "small business stabilization financing," in which the SBA will loan money to pay off existing loans. Under the program, the SBA can issue or back loans of up to $35,000. Businesses can then use the money to make up to six months of payments on previous loans. Interest on stabilization loans will be fully subsidized, and the loans won't have any payments due for the first year. Borrowers must repay them within five years.
  • Businesses restructuring their debt could delay paying taxes on the transaction for five years, and then spread the payments over an additional five years.

 

The recovery bill also includes critical tax incentives to get consumers back in stores, such as a refundable tax credit - effective in 2009 and 2010 - of up to $400 for working individuals making $75,000 and less and $800 for working families making $150,000 and less. There is also a refundable first-time home buyer credit, which could have an impact on young couples spending money in the bridal market. Overall about a third of the stimulus funds, totaling $286 billion, will be spent on tax cuts designed to jump start consumer spending.

Additional stimulus measures geared toward business include an extension of bonus depreciation on capital expenditures through 2009, allowing businesses to immediately write-off 50% of the cost of depreciable property. Businesses buying equipment can also speed up depreciation through 2009. There's also a per worker tax credit of $2,400 for companies that hire unemployed veterans and youth who have not been regularly employed or in school in the past six months; a reduction of the 2009 required estimated tax payments for certain small businesses; and a break on capital gains taxes for small business investors.

Where To Go For Further Information
To take advantage of the various business tax relief measures in the stimulus act, jewelers should check with their local tax consultants. For more information on the Small Business Administration provisions in the act, go to www.sba.gov. SBA announced that it plans to release more details on implementation of the stimulus act provisions soon.

 


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