Presti & Naegele Panel Discussion About Obama's Health Care Act and the Federal Debt Crisis

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A recent panel discussion hosted by top accounting firm Presti & Naegele has answered pressing questions about how the federal debt crisis and Obama's new Health Care Act impact small business communities. In the spirit of the present rising economic uncertainty, the talk addressed and clarified issues related to the national deficit, available insurance options, and tax implications.

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The government has not solved anything by getting involved. They have made it more difficult for everyone and costs will rise dramatically.

The multi-disciplinary panel discussion hosted by accounting firm Presti & Naegele at the beginning of this month (10th of April) has addressed a number of issues that are of national concern, including the raising economic uncertainty due to recent changes in the the health care system as seen in the larger context of the steeping federal debt crisis. Presenters Andrew Presti and Mark DeRosa spoke about how the national deficit really impacts small business, on the one hand, and about insurance options now available, on the other.

Due to the recent grand redesign of the health care system doubled by the existing federal debt crisis, many small business owners and individual taxpayers have voiced their concerns about additional costs associated with hiring new personnel and the increased amount of paperwork and legality issues.

The discussion opened with a review of the 2012 National Small Business Association Economic Report that highlighted how small businesses are continuing to face economic uncertainty. The report shows that one in two workers in the private workforce run or work for a small business, and one in four individuals in the total U.S. population is part of the small-business community. Furthermore, as much as 40% of the respondents deemed that the Congress's main priority should be reducing the national deficit.

Andrew Presti, partner at Presti & Naegele, spoke about The Real Impact of the Federal Debt Crisis and suggested that the government has not solved anything by getting involved, concluding 'They have made it more difficult for everyone and costs will rise dramatically.'

Mark DeRosa, President at VantagePoint Benefit Administrators, followed with a talk providing relevant information on cost-efficient insurance options that are currently available.

Moderator Ramon Ray, Editor & Technology Evangelist, also raised a number of questions that tested the general pespective on a number of issues. One of them probed the necessity of the Medical Malpractice reform as a component for lowering health care costs, while other questions focused on the federal debt crisis current issues. The panelists were asked their opinions on whether they saw private funding as an available option to bridge the gap Sequestration has put on SBA loans and what role taxes will play in the future as it relates to federal, state and city debt.

With 25 business owners in attendance, the panel discussion held at Trade Brooklyn, New York, facilitated an open exchange of questions and answers between the presenters and the audience. The attendees were particularly engaged and interested. Business owners had concerns about the employer responsibility under the Affordable Care Act and stated that they are currently not hiring due to additional costs that will be incurred.

What can be done about the Affordable Care Act? Andrew Presti's answer was: 'Call your government representatives!'. To this end, the directory of representatives can be found here.

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About Presti & Naegele:

Presti & Naegele is a full service accounting firm that has been providing business and tax services in the metropolitan New York area since 1982. The staff of 33 professionals provides audit, compliance, business management and expert QuickBooks assistance and analysis to clients. Presti & Naegele believes good service should cover every financial need, no matter what size or scope. The expert staff is more than just consultants — they are fully invested in each and every client's future success. The ideal client does not work in a specific industry or have income of a particular amount, but is rather a company that looks to Presti & Naegele as a partner and trusted advisor.

Contact Information:
Alicia Fleri
Presti & Naegele
225 W 35th St New York, NY 10001
(646) 380-4975

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