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Closed August 9th – 13th for Vacation
(August 5, 2010) Every year we take a week off in August to give our staff a chance to escape to cooler climes for a few days – after all, it was 110 degrees in Phoenix yesterday, the day before, the day before that, etc . etc. We will return Monday August 16th rested and refreshed. Meanwhile, here’s more on 1099s….
As we wrote last week, one of the most troubling parts of the recently passed health care bill is Section 9006, which greatly expands the responsibility of American businesses to report transactions with any vendor on 1099 forms.

The first attempt to repeal this provision failed to pass on Friday July 30th, as bill HR 5141 to strike Section 9006 came out of committee larded with other tax changes, and the House did not have enough votes to pass the whole package. I’m sure that more attempts to repeal will be made, as opposition from small business owners all over the country is intense. And the more that people find out about this section, the more impetus there will be to strike it down.

We found an excellent article in the Journal of Accountancy that outlines the ways that this provision, if left standing, will radically alter the way business is done in the US.
Take a look here

Now is exactly the time for grassroots action to repeal this unworkable provision, which will go into effect on January 1, 2012. We urge everyone to contact their representatives in Washington, and make your opinion known.


Onlygold.Com BBB Business Review

Onlygold did business at the same location for more than sixteen years. CMI Gold & Silver Inc. has done business from three locations in Phoenix since 1973.

Both firms are Accredited Businesses with the Better Business Bureau, and neither firm has had a complaint filed with the BBB—ever!

In addition to gold, silver, platinum, and palladium in coin and bullion form, we also purchase a wide range of numismatic coins and currency for our retail business. Feel free to call us for quotes or price indications on anything in coins, bullion, and paper money.

We have really strong bids for gold and silver bullion and coins. is owned & published by CMI Gold & Silver Inc. Copyright – CMI Gold & Silver Inc. All rights reserved.

All checks, shipments, and correspondence should be sent to:

CMIGS-Onlygold 3800 N. Central Avenue, 11th Floor, Phoenix, AZ 85012