THE ONLY TAX BOOK YOU'LL EVER NEED

An altogether superior primer--up-to-date, accessible, and wordly-wise. Thanks to flashes of true wit and a welcome absence of outlandish advice, Garber's guide may hold greater appeal than B. Ray Anderson's How to Save 50% or More on Your Income Tax (p. 1217) for persons seeking practicable ways to reduce their taxes. Garber, a practicing tax attorney, systematically covers relevant aspects of the Internal Revenue Code from reporting income and taking credits or deductions through ""tax creatures"" (non-profit organizations, partnerships, shelters, trusts, etc.); also reviewed are estate planning and tax-favored retirement programs. Throughout, Garber deftly translates lingo--constructive receipt, de minimus, zebra--into language. His allusive names are (against the odds) amusing and effective. Thus, the case-study cast includes Philip Nolan, an expatriate with tax problems; Homer Chapman, a contributor to worthy cultural causes; Mr. Dombey, whose tax bill could be cut by taking his son into the family business; Lew Pohl, of percentage-depletion fame; and Percy Flage, recipient of an incentive stock option on appreciating common shares. For all the light touches, Garber never treats taxes as less than a serious business. Further, he offers a wealth of cautionary pointers on calculating allowable interest expenses, avoiding tough deficiency penalties, and otherwise skirting pitfalls resulting from 1981-82 rules changes. The extensive appendix encompasses a lengthy glossary, tax-rate schedules, and a census of federal tax forms and publications--plus a ten-page tax-data organizer to help the most disorderly prepare their returns to advantage. An impressive and engaging package.