Accounting for Jewelers is celebrating its remarkable 10-year anniversary today. As we look back on a decade of accomplishments, growth, and partnership, it’s an opportune time to reflect on the incredible journey that has brought this company to where it stands today. From humble beginnings to becoming a trusted name in jewelry accounting, let’s delve...Read More

The Child Tax Credit is a normal credit that may appear on your federal income tax return.  Changes that took place in 2021: If you’re married and make less than $150K a year you receive the full $2,000 credit per child (single, less than $75K). Half of your eligible credit is being paid out during...Read More

What is Inventory versus Cost of Goods Sold? Why is inventory important? What do you need to know about Inventory to operate your jewelry business? You’ll find all these answers here. What is Inventory? Inventory is an Asset, and Assets are things you own, like cash in the bank. Inventory Asset includes Raw Materials, Works...Read More

PAYROLL PROTECTION PROGRAM Great News! The PPP Forgiveness has changed thanks to the PP Flexibility Act that passed into law last Friday. We’ve been boggled with calculations previously, and now it is all much simpler. Here are the revised Guidelines: 24 weeks to use the funds instead of 8.until Dec 31 to return to Feb...Read More

We send our regards to the JDM family at Bejeweled Software. Greetings this holiday season and thank you for serving our industry for so long. We look forward to hearing about the next chapter of your journey. An option to replace JDM for ongoing support and updates is our online inventory app for makers, BenchWorks....Read More

Gifts cards, cash, employee discounts and inventory are always taxable to the employee. One $25 business gift deduction per year per recipient is not included in pay as a bonus. This can be for employees or outside of business.Exception: gift amount is not limited if giving a gift that benefits a company as a whole, such...Read More

New States continue to roll out as part of the Marketplace Sales Tax Nexus. As of October 1, 2019, Etsy is collecting and remitting Sales Tax in many states, including California and Colorado on behalf of sellers. We, at Accounting for Jewelers, keep this up to date for you as our client with Sales Tax...Read More