May 18, 2022 · Wedding planning is often overwhelming but figuring out how marriage will affect a couple’s tax situation doesn’t have to be. Here are a few things couples should think about as they prepare for the big day.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

Mar 11, 2024 · In some jurisdictions, an engagement ring is regarded as an irrevocable gift, meaning it becomes the recipient’s property upon acceptance. In a claim, the ring as a tax deduction is not doable unless the charitable organization will be …

Feb 6, 2025 · Access IRS forms, instructions and publications in electronic and print media.

Oct 29, 2024 · Learn about jewelry tax and insurance and how obtaining a jewelry insurance policy from BriteCo can protect your high-value pieces.

Unfortunately, the cost of your engagement ring can't be deducted as a write-off on your personal income taxes. H&R Block tax pros explain why.

Jul 31, 2023 · If the engagement ring is considered a pre-marital gift and is valued at more than $17,000, gift tax may be owed at the ordinary income rate for the giver. For those in higher tax brackets, this can be substantial.

There are a couple of NAICS codes to choose from if you are a jewelry manufacturer. There are several codes to choose from, but the two most relevant are 339910 and 423940. The first code is for businesses that mainly make jewelry items, while the second code is for businesses that make items mainly for the purposes of trade shows.

Jan 1, 2023 · Whether you buy a piece of jewelry or inherit it, you’re in possession of what the IRS calls a capital asset. When you sell that capital asset, and you earn a profit on the sale – also known as capital gains – you’re required to pay taxes on it.

6 days ago · Take full advantage of your pre-tax dollars to support your health journey with Oura. Oura Ring and Membership are covered and reimbursable via Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA).* You can also use your FSA or HSA card to pay for your eligible online order.