Monday, December 20, 2010

22News inFocus: The Deficit Debate


CHICOPEE, Mass. (WWLP) - This week's 22News inFocus examines the Country's growing national debt and the impact the cash crisis will have on your wallet.

The United States is trillions of dollars in the red. This debt is putting the financial stability of our country in jeopardy, and will cost taxpayers for generations to come.

The Government is considering reducing social security benefits, raising the retirement age, and doubling the federal gas tax to cut spending. These are all things that could impact your life.

This week on 22News inFocus we'll tell you what you need to know the financial crisis and the decisions the Government is making, and we'll explain what they mean for you future.

We'll have a tax expert who can tell you what it all means for your bottom line.

We'll also hear from two State Representatives about what budget cuts mean for the services you rely on every day right here in western Massachusetts.

Saturday, December 18, 2010

Tax code changes impacting accountants


Article courtesy of www.WWLP.com Channel 22 News 

Shane Symolon (22 News)

CHICOPEE, Mass. (WWLP) - Last minute changes to the tax code has made it challenging for accountants and others who help people with their taxes.

The Internal Revenue Service just released tax instructions to help employees implement the 2011 cut in payroll taxes.

They usually get those tax tables in November, but only draft guides were sent out this year.
Some accountants say they've told their clients multiple possible strategies depending on what congress did.
"We have to give both ends of the spectrum, if this happens your going to get hit with less tax, if the other situation happens and it gets extended it won't be as bad," said Andy Pignatare, CPA of Pignatare & Sagan LLC.

Accountants say the fact that many cuts, credits and deductions were extended makes the transition easier than if everything had changed.

Thursday, December 9, 2010

Andy Pignatare On "In Focus"

Tune in Sunday December 19th when Andy Pignatare of Pignatare & Sagan L.L.C. will be on Channel 22's "In Focus" to discuss deficit reduction act, lowering of government spending, and other means of reducing the Governments deficit without overly burdening the everyday working American.


Again tune in Sunday at Noon time December 19th 2010.