05252016Wed
Last updateTue, 24 May 2016 9pm
Russell Mefford - Jeweler by day, Southern Rocker by night

Russell Mefford - Jeweler by day, Southern Rocker by night

If you’re a Southern rock fan you know the differe...

JA fights for jewelers on Capitol Hill

JA fights for jewelers on Capitol Hill

Association continues to promote industry policy p...

Retailer Roundtable: What was your best store promotion?

Retailer Roundtable: What was your best store promotion?

Q: What was your best store promotion?

“For a numbe...

Morganite: The modern face of jewelry

Morganite: The modern face of jewelry

Trends come and go as quickly as the seasons. Much...

  • Newsletter

  • Latest Post

  • Most Read

Other News

Lafonn celebrates 5 Years at JCK with Anniversary Collection & Gold MacBook giveaway

Lafonn celebrates 5 Years at JCK with Anniversary Collection & Gold MacBook giveaway

(CYPRESS, Calif.) - Lafonn, the brand known for luxury within reach, will celebrate its 5th Anniversary at JCK with a Gold MacBook Giveaway to one luck retailer and an Anniversary Collection.

To enter to win, retailers must complete an entry form (whil...

Readmore

Loading...

Industry Events

Top 5 Reasons to attend JCK Las Vegas

Top 5 Reasons to attend JCK Las Vegas

(NORWALK, Conn.) - The countdown to Las Vegas Jewelry Week has begun. With 2 weeks left until show time, JCK Las Vegas has announced some attributes, features, and amenities that indicate both their readiness and allure. Here are the Top 5 Reasons not...

Readmore

Loading...

On The Move

PhotoScribe jewelry inscription service now operating exclusively from IGI

(NEW YORK) - The International Gemological Institute (IGI) – creators of diamond laser inscription, Laserscribe - has announced that jewelry inscription service, PhotoScribe, will operate solely from the Institute’s New York laboratory.

PhotoScribe las...

Readmore

Loading...

What's New

Michou Jewelry announces marriage of two popular collections

Michou Jewelry announces marriage of two popular collections

When Michou Jewelry founder Michele Sonner thinks back, the seeds of a relationship began over a decade ago, when Michou unveiled the first pieces in its One-of-a-Kind collection.

Michou Jewelry has always been a gem-focused line, thanks to Sonner’s e...

Readmore

Loading...

Featured Articles

Simply Diamonds collaborates with Disney to offer sparkling Enchanted Disney Fine Jewelry line

Simply Diamonds collaborates with Disney to offer sparkling Enchanted Disney Fine Jewelry line

Simply Diamonds finds itself enchanted indeed to be working with Disney to create a stunning and extensive line of fine diamond jewelry. The New York-based company will make fashion, gemstone and bridal jewelry inspired by the iconic Disney Princess ...

Readmore

Loading...

Latest News

Lafonn celebrates 5 Years at JCK with Anniversary Collection & Gold MacBook giveaway

5 HOURS AGO
Lafonn celebrates 5 Years at JCK with Anniversary Collection & Gold MacBook giveaway

(CYPRESS, Calif.) - Lafonn, the brand known for luxury within reach, will celebrate its 5th Anniversary at JCK with a Gold MacBook Giveaway to one luck retailer and an Anniversary Collection.

To enter to win, retailers must complete an entry form (while supplies last) at Lafonn’s JCK booth #B19179 bet...

Readmore

JA offering Certification exams at JCK Las Vegas

5 HOURS AGO

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, is offering its renowned Sales and Management Professional Certification exams at the JCK Show. In 2015, the number of jewelry professionals who completed JA Professional Certifi...

Readmore

Top 5 Reasons to attend JCK Las Vegas

7 DAYS AGO
Top 5 Reasons to attend JCK Las Vegas

(NORWALK, Conn.) - The countdown to Las Vegas Jewelry Week has begun. With 2 weeks left until show time, JCK Las Vegas has announced some attributes, features, and amenities that indicate both their readiness and allure. Here are the Top 5 Reasons not to miss JCK Las Vegas 2016 (Friday, June 3 - Mond...

Readmore

GIA announces dates for New York Jewelry Career Fair

14 DAYS AGO
GIA announces dates for New York Jewelry Career Fair

GIA’s Jewelry Career Fair will return to New York City on Monday, July 25, 2016. Dozens of gem and jewelry companies will be looking to hire skilled and motivated professionals at every career stage. The free event is expected to draw crowds similar to last year’s event in New York, which attracted ...

Readmore

PhotoScribe jewelry inscription service now operating exclusively from IGI

6 HOURS AGO

(NEW YORK) - The International Gemological Institute (IGI) – creators of diamond laser inscription, Laserscribe - has announced that jewelry inscription service, PhotoScribe, will operate solely from the Institute’s New York laboratory.

PhotoScribe laser inscription service specializes in laser engrav...

Readmore

Rio Grande announces winners of 16th annual Saul Bell Design Award

6 HOURS AGO
Rio Grande announces winners of 16th annual Saul Bell Design Award

At a celebration dinner held May 15 during the Santa Fe Symposium® in Albuquerque, NM, Rio Grande announced the winners of the 16th annual Saul Bell Design Award competition. Through rigorous judging, a panel of judges chose first- and second-place winners in each of six competitive categories, as w...

Readmore

Michou Jewelry announces marriage of two popular collections

5 HOURS AGO
Michou Jewelry announces marriage of two popular collections

When Michou Jewelry founder Michele Sonner thinks back, the seeds of a relationship began over a decade ago, when Michou unveiled the first pieces in its One-of-a-Kind collection.

Michou Jewelry has always been a gem-focused line, thanks to Sonner’s early training as a gemologist, which instilled a d...

Readmore

Dazzling Paws Jewelry debuts new Spring Collection

6 HOURS AGO
Dazzling Paws Jewelry debuts new Spring Collection

(PLOVER, Wis.) - Dazzling Paws Jewelry has announced a large expansion of their original dog themed sterling silver jewelry collection. The new product line debuts a grand assortment of styles ready for spring.

Myra Westphal, company President, created these pieces with the sunny seasons in mind. “Our...

Readmore

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.

 


Columnist



Media Kit