Taxation Law Books

The New Tax Guide for Artists of Every Persuasion: Actors, Musicians, Singers and Other Showbiz Folk, Visual Artists and Writers, by Peter Jason Riley, CPA is an indespensible tool, that I'm glad and relieved to have found. This book isn't meant to be a substitute for the advice and skill of a professional accountant and it doesn't give you a step-by-step of how to fill out tax forms. You don't have to be a millionaire, it's okay if you still have a 9 to 5 job, and it's okay, if you're not on a national show or whatever, and it's okay if it's not a regular source of income... if you spend money while pursuing work in an arts-related field (whether it be headshots, guitars and picks, ballet shoes, paintbrushes, or faxes) and you can prove that you at least occasionally make or have the potential to make money from your art (sales of your work via CD, DVD, etc), pay from contracted jobs, etc), you owe it to yourself to explore the legitimate options which can relieve tax stress from your personal filings, or to help improve your efficiency if you're already claiming expenses for your art on your tax returns.

This book meant to give you a better idea of the nature of tax-related issues for working artists, to make it a little less daunting, to show you how to keep proper records in an efficient way, to reduce errors and penalties, reduce taxes on legitimate business expenses, and even to cut down the time and money you would spend with a tax advisor. Even if you can't afford to see a CPA for a current tax year, what you will learn from Mr. Riley's book will prove invaluable and eye-opening as to pointing out the considerations you should be aware of when doing your taxes yourself (but remember, it's probably always going to be better to have a pro look at it.).

Mr. Riley's book is essentially an update of the book "New Tax Guide for Performers, Writers, Directors, Designers, and Other Showbiz Folk", written by the late of R. Brenden Hanlon. Since Hanlon had been deceased for some time, it could not be updated with the information artists would need to stay current with tax laws. Mr. Riley contacted the publisher and worked with them to make a follow up to Mr. Hanlon's original, with the same goal - to help Entertainers and other artists to understand taxes better. As noted from Mr. Riley's longer title, the book strives and succeeds at being even more detailed, while accounting for the variety of artist types.

After a brief introduction, Riley provides two chapters that every reader is advised to dig into. These chapters cover what you need to know about Income - the different types, the basic forms involved, how self-employment taxes are calculated, estimating advance tax payments, and then all the different types of deductions you can make (from a percentage of your home expenses, if you work from home, to travel, equipment, start-up costs and more). Mr. Riley gives crucial tips such as what, how much, and when to write off certain items.

The next set of chapters are presented almost in a "Choose Your Own Adventure" manner. If you're a musician... read the musician chapter. If you're an writer... read the writer chapter. And so on. Each of those chapters address the specific considerations, rules and benefits as they apply to your specific profession, followed by links to Internet resources and a handy Expense checklist, as it applies to your work and which you can copy and use during the year. As the different deduction types are listed, with descriptions, Mr. Riley was also kind enough to note beside each one, what types of recordkeeping you should be prepared to have on hand to verify the amounts, should you be audited later.


After you've read the chapter of your profession, there are closing chapters for all readers. These cover how to set up your business properly (from a legal standpoint), how the audit process works, how to keep great records to verify your claims in the event of an audit, and your rights as a taxpayer. It also covers how to choose a tax advisor, and how to plan the timing of deductions, as well as your retirement.
It's capped off with an Appendix filled with more expense report spreadsheets you can use for your recordkeeping, and even a handy mileage reference sheet, for those of you who tour or otherwise commute to different cities by automotive transportation. I first learned of Peter Jason Riley from his awesome Website, which is also listed in the book. Like the book, Riley's Website has different sections addressed to different entertainer types... but you can actually download the spreadsheets in Excel format, already preformatted so that you can just enter in the numbers from your receipts, W-2s, 1099s, etc, and the calculations will already be done for you... you then just print that out, and take that and your receipts to your tax preparer... and you should be good to go.

The only thing the book is truly missing from being even more valuable is an index page. There is a table of contents, which is helpful, but in cases where you might want to reference something specific, such as the specific forms/schedules that you would be making the deductions on, or a certain term, you may have to painstakingly re-read a chapter to find the info that you need. Not to be nit-picky... as it certainly would be a lot of work (and extra pages) for a book on a complex topic, but the problem is just that in most sections of the book, there are no paragraph breaks, making it more difficult to spot some passages that you might be looking to reference.

The version I have reviewed is the First Limelight Edition, published in January 2002. I needed the book in a hurry, and the newer edition wasn't in stock at the time I ordered, so I went with the older one. But I did find this book to be so helpful and am still learning a good deal from it about a month and a half after purchase, that I do still plan on buying the updated version.

All in all, I think this book would make a great companion to any books that do address how to actually approach filling out forms, or even to help you along if you're using a service or software like TurboTax or something similar.

The New Tax Guide For Artists Of Every Persuasion: Actors, Directors, Musicians, Singers, And Other Show Biz Folk, Visual Arts And Writers is an essential, core reference for anyone who makes their living in any aspect or field of the performing arts, the visual arts, or the literary arts. Succinct, accessible, superbly presented information is enhanced with a listing of useful IRS publications, descriptions of the most relevant IRS forms, and blank spread sheets for recording earned income and keeping a monthly travel expense diary. If any part of your taxable income is derived from the arts, then The New Tax Guide For Artists Of Every Persuasion is an invaluable reference for you -- even if you have already engaged the services of public accountants and financial managers to assist you.

Though the author is clearly well informed about tax strategies, this book doesn't sufficiently address the needs of fine artists. The book seems to make the assumption that careers in the fine arts are straightforward. The book includes sections for specific disciplines, but those are not very in-depth. I did not get much more information from this book than I got from a general tax guide.

I had not taken a bar exam since I took the Louisiana bar over 20 years ago. I decided to take the MPRE recently and had never taken it before. The cards were extremely helpful. I made a 93 on the test. If you have not taken a bar exam in a long time and need a complete refresher course, I would recommend this learning tool.

I thought this box set of study cards was helpful but I wonder whether the publisher bothered to hire copy editors. The cards start out okay, but as you progress, there are more and more glaring typos. After a while, I was so distracted, I had to correct them in order to understand them.

I am just over 1/2 through the cards, and want to highly recommend them for MPRE prep. I had a concern with the answer to one of the fact scenarios, and after pleasant and prompt correspondence with Aspen (publisher), learned that an answer directly inferred from a reading of the Model Rules (including Preamble) and Commentary was in fact wrong -- only known by a comparative analysis of the old code with the new Rules. Kudos to Aspen for this depth of knowledge, as well as great service! The scenarios are sufficiently entertaining to avoid boredom, a feature that also greatly aids in retention.

Well, perhaps not many students find takeover sories interesting. Perhaps,... But for an insight into real business problems, the Gillettte story is one of the very best. It shows that women may be better managers (even in a razor company), provides a fresh written perspective, and should be considered as a wounderful learing example for further geneations.

I believe Resisting Hostile Takeovers is worth reading though I don't completely agree with Ms.Ricardo-Campbell's writing style. This book discusses two events Gillette had experiened through 1986 and 1988: hostile hakeover attempt and proxy battle. The author, as economist, very concisely details the major issues arising in the takeover battle such as business decision rule, antigreenmail, proxy battle, anti-takeover legislation etc. Caution is required, however, since this book is written from a board member's viewpoint and there are relatively not much about how managements and other legal and financial advisors reacted to the threats.

This excellent thesis has great credibility because it was written by someone who was actually in the game and not on the sidelines looking in. The detail is such that it could also serve as a text on the subject of takeovers. This book serves as a testament that even the some of the best managers(Gillette) should and will be constantly challenged ( if need be by outsiders like Perelman, etc) to increase shareholder value.

Union Col. Newton Lord, in demanding "A brandy for my horse", while in a saloon(and in the saddle as well)sets a high standard for shameful and hilarious buffoonery in uniform.
Once again, author Thomas Lowry takes readers on a dizzing ride of strange and amusing tales from civil war court records. The war between the states was a large conflict requiring the sevices of millions of troops and thousands of officers--and with only a handfull experienced soldiers availible at the beginning of the war, the opprotunity presented itself for any gentleman of means to start his own regiment.
I recommend this read most highly for anyone who has served under an eccentric leader, or laughed at Shakespeares' Falstaff,or George Frasers' Col. Flashman. Perhaps those fictional clowns were based on the sort of real-life poltroons that every army seems to have.
Lowry joins a great fraternity of those who show that history is funny as well true.

Far too many writers addressing the Civil War are guilty of childish romanticism. While that tremendous conflict certainly had its noble heroes and ample demonstrations of courage and self-sacrifice, any war--or human crisis of any sort--has its cowards and fools, its liars, thieves and rogues. This fine, factual book serves as a much-needed (and highly readable) balance to pulp fiction and pulp history heroics. It tells the stories of some of the officers who went wrong, either from deficiency of character or circumstance. In doing so, it enriches our understanding and visceral sense of the Civil War in ways that the next dozen adulatory biographies of mediocre generals will not. While I am a long-time fan of co-author William C. Davis, Dr. Lowry deserves special praise for his continuing literary efforts to describe the dramas and tragedies around, between and, sometimes, in the great battles. As a former soldier who served a full career, I can guarantee any reader that this book shows soldiers as more than a few of them really are--not gallantly charging the enemy, but energetically looking after themselves. While this book concentrates on some of the darker aspects of the war, those aspects are exactly the ones that are lacking in too much of what passes as history or historical literature. I would also recommend any of Lowry's or Davis's other superb Civil War books.

Dr. Lowry has added some color to the realm of Civil War History with his two books, Sex in the Civil War, and Tarnished Eagles. Lowry does a great job in picking out the interesting cases that also represent a good cross section of Civil War Justice. I heartily enjoyed this work. I'm not too sure of just how scholarly this is, but it certainly makes the soldiers appear much more human.

This book is full of useful information and strategies for active traders and investors. However, it is poorly written. The author repeats himself often, while omitting important information that I guess he assumes the reader knows (for example that the mark to market election can only be changed once chosen with the specific consent of the IRS). Sections and subheadings are poorly organized. Often the author writes something like: "we recommend X for the following reasons" and no reasons follow. The book desperately needs editing. If you are prepared to put up with this and have a good understanding of the basics of the tax code as they apply to investing already then this book is very worthwhile reading. I am just starting Ted Tesser's book on taxes for traders. It is a MUCH better read. I have yet to see if it is as useful.

If you are an active trader, this book MUST find its way into your hands. It covers every issue necessary to help you in filing your taxes with trader status. If you can file as a trader, a whole new world of business expense deductions will be open to you. I found that this book answered every question I had, along with some I hadn't even thought of yet.

If you are familiar with author Robert Green's Green Company website, you know how much information and detail he has to share. And if you've read the many pages on his website or his articles in "Active Trader" magazine, then you know how Mr. Green is able to take the otherwise complicated and confusing (and sometimes boring) subject of taxation and present it in a way that almost anyone can follow.

You will find chapters dedicated to important topics such as entity selection and formation for traders, mark-to-market accounting, retirement planning, and tax planning, along with several examples of IRS forms filled out for various types of traders. Mr. Green recommends simple, legal, and proven techniques for reducing the number one cost of traders -- taxes. And he doesn't use risky "tax avoidance" or "multiple-entity" schemes.

This book was written just a few months ago, so it is very up-to-date. In addition, the book promises to publish free updates on Mr. Green's website. So while the tax code may constantly change, this book should always be current.

I don't think this book should be thought of as a replacement for a qualified tax professional familiar with the needs of traders, although I suppose some folks may be able to file their taxes correctly with this book's help. The tax law is just too complicated and the rules are constantly changing from court decisions and lawmakers in Washington. But this book will help you run your trading like business in a way that will allow you to maintain trader status and make life easier at tax time.

I have read every book and website I could find on the subject of trader taxation and entity formation. This book, "The Tax Guide for Traders", is the best yet. I highly recommend it.

The book discusses issues that should be considered before filing as a trader. It also discusses factors that traders should consider before electing mark-to-market accounting. The guidance here is consistent with what I've read and heard from other credible sources.

A chapter is devoted to choosing the form of entity--single member Limited Liability Company, sole proprietor, etc. The book mentions several times that a tax professional should be consulted before selecting a form of entity for the trading business. This point cannot be overemphasized.

Another chapter includes the author's recommendations for establishing retirement plans that traders who have established a business entity may find useful. The book also discusses allowable deductions for traders.

The chapter on proprietary trading discusses considerations when trading a firm's capital instead of your own, and what to consider before associating with a firm as an employee or independent contractor.

For the most part, the book uses examples to illustrate key points effectively. The chapter on IRS audits includes a couple of cases studies--an audit of a part-time trader and an audit of an unprofitable trader. Illustrative Schedule Cs (Profit or Loss from Business)--for a sole proprietor and an LLC--are presented and discussed in some detail. The chapter on futures and commodities trading seemed to lack the level of detail that was present in other parts of the book, although it does provide a good overview of the relevant issues. As for taxation of equity, index, and ETF option trades, the book does not offer any guidance at all in this area.

The author is a CPA, and CEO of an accounting firm that provides services to traders and investors. This edition of the book was published in late 2004. Readers are invited to log on to the accounting firm's web site to get updates on issues that were not included in the print edition when it went to press. The web site also has links to journal articles published by the author that will be of interest to active traders.

I was somewhat bothered by the Introduction to the book, where the author appears to take a dim view of other tax professionals who serve trader/clients or want to get into the business of serving them. We are told, for example, that unless your local CPA or tax attorney handles "dozens" of traders, they probably will come up short in their advice to you." Dozens? Oh, come on now.

That said, I believe the book is a good starting point for active traders who are considering making a business out of it. With this information at hand, you should be able to ask good questions of your local CPA. He or she should be able to put you on the right path or, if appropriate, refer you to another tax professional with experience in this area.

I read the parts of this book that related to me...mutual funds,etc. Then I browsed through other parts. The examples make each point clear and are often humorous. There are lots of ways to keep taxes much lower through planning ahead of time. This book makes it fun to make those plans.

The value of this books lies in the author's frequent assertion that you are not 'avoiding taxes' or 'cheating the IRS'... because there are PLENTY of tax breaks written into the tax code that are legal and only have to be asked for; so ask! Many are best used by small businesses which are incorporated, but others apply to everyone. He has many travel deduction strategies which make most of a trip deductible.

For those with an interest in the early history of the U.S. Constitution and the key federal case that largely determined the future power balance between the national government and states.

This book also will be of great value to those desiring a better understanding of the country's first banking system and the economic issues present as our country took wing. Actually, this effort is more about the Second Bank of the United States than the legal proceeding of McCulloch v. Maryland.

Professor Ellis downplays the contemporary importance of this famous case while also, I think, undervaluing the contributions of our greatest Chief Justice, John Marshall.

This book is a sophisticated reinterpretation of a critical court case in the early national period. McCulloch v. Maryland (1819) has been one of the two most cited cases of the Marshall Court, enforcing the implied powers of the national government over those of the states. Ellis turns that fundamental result on its head and asks what the immediate repercussions of the decision might have been. He finds that immediately thereafter the ruling was largely ignored, even widely criticized. He also offers a counter to the dominant position about Marshall's nation-building theme, by suggesting that if we move beyond the Chief Justice's nationalistic perspective alternative positions were appropriate but largely ignored by the decision.

The case was really about the constitutionality of the Second Bank of the United States, a public/private partnership that some believed represented a gross overstepping of legitimate federal power. At a fundamental level it represented a debate over national prerogative versus states' rights. Marshall ignored in his opinion many of the points that seemed to be of the most concern to the defendants. Those included the propriety of the federal government chartering a private, profit-making national bank, that bank's authority to conduct its business wherever it wished, its imperviousness to taxation and regulation, and a host of other concerns. Looked at in this manner, the state of Maryland had an important matter for resolution that Marshall decided not to address.

Instead John Marshall reemphasized the power of the federal government to the exclusion of the rights of the states. This important contention would consume national/state relations through the Civil War era and some might say that it is still far from settled. "Aggressive Nationalism" is a good title for this book as Marshall defended that to the exclusion of any sense of state prerogative.

This book is so helpful and wonderful. I bought two and gave one to my daughter who has just gotten married and she loved it too. A must-read for people to need to get straight with their financial planning!

This book completely lives up to it's 24 hours expectation. After reading it, I feel as though I know exactly what to do with my financial plans. This book has intelligent information with quite a touch of humor to go along with it. I think everyone planning for their future whether they are old or young should definitely read this book. Take it from me, it is incredibly helpful!

I recieved a book that was in better condition than I thought, It was delievered within the time frame given. I am very pleased and will definatly order again.

I have this book in E-book form. It omits and skips some things leaving you looking for what you need.
Perhaps the hardbound copy does not

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I bought this book believing it discussed US construction contract law and management. It is very good and explicit, BUT it discusses UK and not US laws.