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Last updateWed, 23 Aug 2017 3pm
Masters of Marketing - A century of sparkling insight - Part 3

Masters of Marketing - A century of sparkling insight - Part 3

Part III - Richter & Phillips, Cincinnati, OH

A...

JA applauds removal of border adjustment tax from reform proposals

JA applauds removal of border adjustment tax from reform proposals

(NEW YORK) - Jewelers of America (JA) welcomed an a...

Jewelers’ affidavit reduces selling scams

Jewelers’ affidavit reduces selling scams

More than six years ago, a former employee targete...

Other News

IDEX Online reports jewelry sales strengthen in June

IDEX Online reports jewelry sales strengthen in June

(IDEX Online) – Sales of fine jewelry and fine watches rose by 5.8 percent in the U.S. market in June 2017, when compared to the same month a year ago, as the graph below illustrates.

Sales were an estimated $6.5 billion, according to preliminary data...

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Industry Events

RJO members buy with “Mile High Style”

RJO members buy with “Mile High Style”

Another successful Buying Show for RJO means big benefits for members

(DENVER) - In early August, the Retail Jewelers Organization (RJO) brought together over 1,200 members and vendors for their semi-annual buying show. This year’s theme was Mile High ...

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On The Move

24 Karat Club SEUS inducts new members, awards scholarships at annual Banquet

24 Karat Club SEUS inducts new members, awards scholarships at annual Banquet

(ATLANTA) - The 24 Karat Club Southeastern United States, a prestigious organization of industry professionals representing leading members from the jewelry supplier sector, welcomed six new members and awarded eleven scholarships at their Forty-Third...

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What's New

Featured Articles

Retailers treat customers to impressive Rolex inventories, thanks to Zimbals’ website link

Retailers treat customers to impressive Rolex inventories, thanks to Zimbals’ website link

With the launch this month of Zimbals’ SwissWatchWholesale.com - the merging of SwissWatchPricing.com and SwissWatchServiceCenter.com - retail jewelers are finding it easier than ever to display hundreds of pre-owned Rolex watches on their websites.

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Latest News

IDEX Online reports jewelry sales strengthen in June

7 HOURS AGO
IDEX Online reports jewelry sales strengthen in June

(IDEX Online) – Sales of fine jewelry and fine watches rose by 5.8 percent in the U.S. market in June 2017, when compared to the same month a year ago, as the graph below illustrates.

Sales were an estimated $6.5 billion, according to preliminary data from the U.S. Commerce Department. The June sales...

Readmore

What can you realistically expect from your Going Out Of Business Sale?

7 HOURS AGO
What can you realistically expect from your Going Out Of Business Sale?

Of the many questions that come up when we initially meet with prospective clients, the one that we spend the most time - and analysis - answering is, “What can I expect from my sale?” After all, for many of our clients, the proceeds from their GOB represent the lion’s share of their retirement savi...

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RJO members buy with “Mile High Style”

7 HOURS AGO
RJO members buy with “Mile High Style”

Another successful Buying Show for RJO means big benefits for members

(DENVER) - In early August, the Retail Jewelers Organization (RJO) brought together over 1,200 members and vendors for their semi-annual buying show. This year’s theme was Mile High Style, and it was one to remember.

Readmore

Increased attendance and new elements spell success for the Fall 2017 Atlanta Jewelry Show

7 HOURS AGO
Increased attendance and new elements spell success for the Fall 2017 Atlanta Jewelry Show

(ATLANTA) - Attendees of the Fall 2017 Atlanta Jewelry Show enjoyed three days packed with new products, new inspirations and expert advice, and were introduced to new programs and services designed to keep attendees engaged and informed beyond the trade show experience.

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24 Karat Club SEUS inducts new members, awards scholarships at annual Banquet

7 HOURS AGO
24 Karat Club SEUS inducts new members, awards scholarships at annual Banquet

(ATLANTA) - The 24 Karat Club Southeastern United States, a prestigious organization of industry professionals representing leading members from the jewelry supplier sector, welcomed six new members and awarded eleven scholarships at their Forty-Third Annual Banquet held at the Atlanta Country Club o...

Readmore

John Ford continues award-winning streak with 2017 AGTA Spectrum Award

8 DAYS AGO
John Ford continues award-winning streak with 2017 AGTA Spectrum Award

(GALVESTON, Tex.) - John Ford triumphed again in two categories in the American Gem Trade Association’s 2017 Spectrum Awards. Ford won Platinum Honors in both the Evening Wear Division and the Business/Day Wear Division. The Spectrum Awards is said to be the Oscars of the jewelry industry - the most ...

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Ed Levin Jewelry introduces the new Twilight Collection

7 HOURS AGO
Ed Levin Jewelry introduces the new Twilight Collection

(CAMBRIDGE, N.Y.) - Ed Levin Jewelry’s new design collection, Twilight, explores the wonder of nightfall.

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Kindred Keepsake personalized jewelry with 3D engraving

7 HOURS AGO
Kindred Keepsake personalized jewelry with 3D engraving

Kindred Keepsake is excited to introduce 3D engraved images to their line of personalized jewelry. This comes after months of testing to create a perfect raised image that has a precise, eye-catching appearance. The most distinguished difference between these 3D engravings and standard image engravi...

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Furry friends on the job: Harley, of JR Brushert Jewelers

7 HOURS AGO
Furry friends on the job: Harley, of JR Brushert Jewelers

This is Harley, a 4 lb. yorkie who works with Deb Brushert at JR Brushert Jewelers in Wausau, Wisconsin. Harley is loved by customers, who often call to make sure he will be there on days they plan to come in to pick up repair work or such. Sometimes they even bring family/friends to meet him. He lo...

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Furry friends on the job: Kozzi of Norridge Jewelers

8 DAYS AGO
Furry friends on the job: Kozzi of Norridge Jewelers

Meet the hostess of Norridge Jewelers in Norridge, Illinois.  Kozzi has been greeting customers for seven years. She has made such an impression on her customers that they return bearing gifts - dog treats! She loves her job and puts a smile on the face of everyone she meets - whether in person or o...

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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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