For over 90 years, we’ve earned an outstanding reputation for knowledge, accuracy and delivering consistently sound advice for Jewelry Businesses and their owners. Our experience and insight ensures that we provide your Jewelry business with the best guidance and accurate accounting services - so you can concentrate on what matters.
Complying with Sales and Use Tax Regulations when operating a high volume business with large cash transactions is a challenge. Mordfin are the Jewelery Industry experts - our experience allows us to guide your business to 100% compliance with local, state and federal Sales and Use Tax requirements. Put your mind at ease, and concentrate on what matters most to your business. We'll take care of compliance.
Many Jewelers hold assets in global financial accounts. Mordfin can help you understand your obligations in filing a Foreign Bank Account Report (F-BAR) - and prepare all documentation necessary for compliance. If you control over $10,000 in foreign banking interestes during the course of a tax calendar year, through personal holdings, or as a signatory, talk to us about F-BAR Filing.
Another important foreign filing requirement is the BE-10. Conducted every five years, this Benchmark Survey from the Bureau of Economic Analysis (BEA) is required of any U.S. Person, Company, Trust or Estate doing business abroad, in any volume. Many filers don't even know of the existance of this important survey, and non-compliance carries heavy penalties. You're required to file this report if you have a foreign rental property, are a named partner in a foreign company (holding greater than 10%), or generate any significant revenues overseas. Even those not meeting reporting requirements must file a BE-10 Claim For Not Filing every five years.
Dealers of Precious Metals, Stones and Jewels are required under Federal Law to implement, and maintain compliance for a comprehensive Anti-Money Laundering program. In addition to requirements like the appointment of a compliance officer and education of your staff - you must also periodically test the program to ensure success. Mordfin offers tools and services to help you identify the need for your AML program, understand compliance obligations and help you to craft a fully compliant program that meets all of your legal obligations.
Perhaps the most important business responsibility is seeing that taxes are collected, and paid at the proper time to local, state and federal authorities. Mordfin's Jewelry specialists will assist your company to understand, prepare and file monthly, quarterly and annual payroll, sales and corporate reporting, and income tax returns.
Tracking and accounting for the myriad financial transactions your jewelry company processes can be a tedious and error prone task. Mordfin's Jewelry accounting specialists can assist your company in maintaining complete, accurate and up-to-date financial records, with a focus on Jewelry industry vertical specific accounting processes, regulations and compliance needs.
We'll work with you to develop a comprehensive financial plan based on your unique needs and long-term vision for your business.
We serve clients throughout the Tri-State area. And we’re available whenever you need help or advice. We can meet with you in our office or yours, and we can work remotely, assuring your sensitive data is securely protected.
Find out more. Contact us to schedule a complimentary meeting to discuss your business and how Mordfin Group can help you turn challenges into opportunities to reach your goals.