4 Steps to file your BOI Return in less than 10minutes
Register your Beneficial Ownership Information in 4 easy steps online
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Celebrating 10 Years of Success
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…
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Child Tax Credit – How To Unenroll
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…
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Cost of Goods Sold vs Inventory Asset
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…
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UPDATES on PPP FORGIVENESS & EID LOANS
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…
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Best Alternative to Jewelry Design Manager
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….
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Gifts and Taxes
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,…
