New Book Takes Aim at Disastrous Tax Mistakes

Thursday, February 11th, 2010

Chicago Tax Attorneys Anthony R. Perrelli and Dean R. Hedeker Reveal How to Avoid the Tax Pitfalls of Poor Estate Planning

LINCOLNSHIRE, IL, FEBRUARY 11, 2010 —CUT YOUR TAX IN 2010 (AND PRESERVE YOUR LEGACY) is released to major booksellers this week. With refreshing candor, CUT YOUR TAX IN 2010 takes on big taxes by exposing how too many of us mistakenly pay thousands of dollars more than the law requires.

CUT YOUR TAX IN 2010 (New Year Publishing; ISBN 978-1-9355470-5-1; US$24.95) by Chicago-area tax and estate planning attorneys Anthony R. Perrelli and Dean R. Hedeker provides the straight talk on why poor estate and retirement planning can cost you dearly.

“This book isn’t about cheating the system,” explains Perrelli.  “The IRS and state governments benefit greatly from the mistakes that people make preserving their assets. Hard-working families are handing over millions of dollars in unnecessary estate and capital gains taxes because of ignorance and poor planning.  Legacies built with blood, sweat and tears are being lost by the second or third generation for no good reason. That’s appalling and it needs to change.”

CUT YOUR TAX IN 2010 shines a spotlight on:

• Why Uncle Sam desperately wants your money
• How to protect your personal and business assets in four smart steps
• What happened with the estate tax this year and why you should care
• How an estate plan can save your family more than taxes

“We didn’t write this book for the aristocratic elite,” adds Hedeker.  “There are teachers, policemen, and small business owners who have worked tirelessly for years to build up every bit of wealth they own. Who did they do it for? Their families. Who will suffer the most from their poor tax planning? Those same families.”

Plus, CUT YOUR TAX IN 2010 provides insights on the capital gains trap, the tax benefits of living trusts, and other tax-saving tips. Many of the techniques discussed in the book are the building blocks of a good estate plan. What do estate planning and tax planning have in common?

“Everything,” says Hedeker. “Without an estate plan, you’re paying too much in taxes on your assets right now. And your family will pay dearly—maybe even more than they can afford—after you’re gone.”

Case in point: the current estate tax debacle in Congress. The current absence of a federal estate tax does not mean that taxpayers are off the hook.  If the tax is reinstated retroactively, families may be slapped with a huge tax bill that they didn’t expect. Those with assets of $1 million or more (that includes a home, stocks, and retirement investments) need to also understand that:

• As of today, the estate tax is still scheduled to be back with a vengeance in 2011, at only a $1 million exemption.
• Any large estates that potentially escape a federal estate tax in 2010 may cause inheritors other tax headaches, particularly in capital gains taxes.
• Most states have their own estate or inheritance taxes. While Illinois’ $2 million estate tax disappeared with the federal tax, there’s no guarantee it won’t be reinstated retroactively.

“People thought that no estate tax in 2010 would make this the ‘year to die,’” says Perrelli. “But that’s not true for many families. It can be a nightmare because estates less than $3.5 million are now subjected to capital gains taxes instead. This changes the way we plan.”

CUT YOUR TAX IN 2010 is available at Amazon.com, Barnes & Noble, Borders, and through other major booksellers. For more information about CUT YOUR TAX IN 2010, visit www.cutyourtaxbook.com or connect with the CUT YOUR TAX community on Facebook and LinkedIn.

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About the Authors

Nationally-renowned estate and tax planning attorneys Dean R. Hedeker and Anthony R. Perrelli are partners at the law firm of Hedeker & Perrelli, Ltd., in suburban northeast Chicago. Hedeker is also a CPA, Registered Financial Consultant, and Fellow of the American Academy of Estate Planning Attorneys (AAEPA). He has co-authored three additional books on estate planning. Perrelli has an MBA and is also a member of the AAEPA. He has been a featured source for Money Magazine, WGN News, and WLS/Chicago. Learn more about Dean Hedeker and Anthony Perrelli at www.cutyourtaxbook.com

Posted in News Releases

Cut Your Tax in 2010 Now Available

Monday, February 8th, 2010

NEW YEAR PUBLISHING RELEASES CUT YOUR TAX IN 2010: A GUIDE FOR SAVING TAXES AND PRESERVING YOUR LEGACY

 Chicago Tax Attorneys Anthony R. Perrelli and Dean R. Hedeker Reveal How to Avoid the Tax Pitfalls of Poor Estate Planning

LINCOLNSHIRE, IL, FEBRUARY 8, 2010 — A revolutionary new book about cutting taxes is released to major booksellers today. With refreshing candor, CUT YOUR TAX IN 2010 (AND PRESERVE YOUR LEGACY) demystifies how to preserve wealth through tax planning.

CUT YOUR TAX IN 2010 (New Year Publishing; ISBN 978-1-9355470-5-1; US$24.95) by Chicago-area tax and estate planning attorneys Anthony R. Perrelli and Dean R. Hedeker provides the straight talk on why most of us are destined to pay too much in taxes and what you can do to escape this fate.

“A simple misunderstanding of tax laws can permanently handicap a family’s financial future,” explains Perrelli. “Common mistakes in real estate ownership, retirement planning, trust and estate planning, and investing are forcing families to pay thousands of dollars of unexpected and unnecessary taxes.”

 CUT YOUR TAX IN 2010 focuses on teaching those of us who have worked hard to build up a legacy:

• Why Uncle Sam desperately wants your money
• How to protect your personal and business assets in four smart steps
• What happened with the estate tax this year and why you should care
• How an estate plan can save your family more than taxes

 Plus, CUT YOUR TAX IN 2010 provides insights on the capital gains trap, the tax benefits of living trusts, and other tax-saving tips.

“We wrote this book based on the issues we address with clients every day,” adds Hedeker. “Retirees and those working towards retirement have the most to gain with these insights. The book offers a way to start a dialog between your own parents, spouse, and children—across the generations of your family—so that you can begin to work together to preserve your family’s wealth.”

CUT YOUR TAX IN 2010 is available at Amazon.com, Barnes & Noble, Borders, and through other major booksellers. For more information about CUT YOUR TAX IN 2010, join the conversation at Facebook and LinkedIn (the book’s website at www.cutyourtaxbook.com is coming soon).

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About the Authors

Nationally-renowned estate and tax planning attorneys Dean R. Hedeker and Anthony R. Perrelli are partners at the law firm of Hedeker & Perrelli, Ltd., in suburban northeast Chicago. Hedeker is also a CPA, Registered Financial Consultant, and Fellow of the American Academy of Estate Planning Attorneys (AAEPA). He has co-authored three additional books on estate planning. Perrelli has an MBA and is also a member of the AAEPA. He has been a featured source for Money Magazine, WGN News, and WLS/Chicago. Learn more about Dean Hedeker and Anthony Perrelli at www.cutyourtax.com

Posted in News Releases