On the Bookshelf

Philip R. Fink, J.D., CPA
Professor of Taxation
University of Toledo
Toledo, OH

• Club Tax Book, by Mitchell L. Stump, CPA, is an essential resource for managers, controllers, treasurers and professionals serving the club industry. It discusses all of the tax issues and opportunities clubs face, including the advantages of using either employees or independent contractors to perform various duties, as well as accounting for employee tips. It also addresses the depreciation aspects of assets such as golf courses and marinas. There is an excellent discussion on obtaining and maintaining the clubs tax-exempt status, including the conduct of unrelated businesses. This looseleaf service is updated quarterly; it includes a hotline allowing subscribers to query the author. Over 1,000 pages; first-year subscription $595 ($475 on CD-ROM); renewals of either are $275. Contact (561) 776-0454; www.clubtax.com.

• Federal Income Taxation of Individuals, by Boris Bittker, Martin J. McMahon, Jr. and Lawrence A. Zelenak (WG&L, 3d ed., 2002), is a complete reference for professionals who deal with individuals financial planning and tax problems. Many topics apply to the day-to-day operations of corporations and partnerships, such as property transactions, accounting periods and methods, identification of the proper taxpayer and significant procedural issues. This book has an excellent topical index, as well as tables by Code section, regulation, revenue ruling and case. $245. Contact (800) 950-1216; www.riahome.com.

• J. K. Lassers Year-Round Tax Strategies 2003, by David S. De Jong and Ann Gray Jakabcin (Wiley, 2002), is a convenient guide for tax planning in a very broad range of topics. It includes strategies for some of the most popular areas of taxation, such as maximizing deductions and credits, retirement and estate planning and marriage and divorce. The book also illustrates the various tax forms for which strategies are discussed. There are many examples and discussions of the possible tax traps for the tax planning ideas illustrated. At many points, a question-and-answer format enhances comprehension. 350 pages; $16.95. Contact (800) 225-5945; www.wiley.com. 

• Mergers, Acquisitions, and Corporate Restructurings, 3rd Edition, by Patrick A. Gaughan (Wiley, 2001), examines the latest trends in mergers and acquisitions. As a practical and comprehensive reference, this book focuses on nearly every type of corporate restructuring. It analyzes and explains not only the financial aspects of these transactions, but the economic, legal, tax and regulatory considerations as well. The book examines methods in valuing a corporation both before and after a restructuring or merger. Many charts and tables help to simplify the material. 624 pages; $75. Contact (800) 225-5945; www.wiley.com.

• S Corporations: Tax Practice and Analysis, by Michael Schlesinger (CCH, 2d ed., 2002), is a complete reference guide, whether one has little or substantial S corporation experience. While comprehensive in scope, this book covers the main substantive and procedural issues, then expands with examples, tax tips and recent developments. The book contains many appendices that illustrate various forms and correspondences an S corporation can use. It is very well cross-referenced by Code sections, regulations, revenue rulings and cases. 504 pages; $99. Contact (800) 248-3248; www.onlinestore.cch.com.