Presenters

Christopher McLoon, Esq.

"Copyright Taxation: Everything you should know about it but were too busy doing fun things to ask.”

Mr. McLoon will discuss the significant issue of taxation of copyrights - expenses (deduct v. capitalize) of creating copyright works, income from royalties, income from sales, and timing of income.

Christopher S. McLoon is a partner in the Business Law Group of Verrill Dana, LLP and the Chair of the Firm’s Tax Law Group. Christopher advises businesses, managers, and investors about conducting business and making and managing investments for optimal tax results. He represents clients in a variety of industries, including timber, renewable energy, finance, and real estate. He is Chair of the ABA Tax Section’s subcommittee on Partnership Terminations, Mergers, and Divisions, and is also co-chair of the Maine State Bar Association’s LLC Act Drafting Committee. Christopher earned his J.D. cum laude from Vermont Law School and his LL.M. (Taxation) from New York University School of Law.

Peter Dufour, JD, CPA, MBA

"Taxes and Artists: Like Oil and Water Paint? Framing the Hobby Loss Rules and Business Expenses for Artists."

This presentation will cover the factors and activities that turn an art hobby into a full-fledged business, including how to appropriately document such activities to withstand IRS scrutiny. We will also discuss some of the most valuable business tax deductions that are available to artists.

Peter came to Macdonald Page from a large law firm where he practiced tax and corporate law, primarily working in mergers and acquisitions. Since joining the firm in 2003, Peter has concentrated his practice on tax compliance and strategic tax planning for individuals and businesses. His current clients include real estate developers, law firms, medical practices, venture funds, and software companies, among others.

Shannara Gilman

"Everything has its place: What to do with what money and how to sustain (and even prosper!) in any economy."

Ms. Gillman will discuss some of the best practices in personal finance management, and will discuss the importance of separating one’s personal and business finances.

Shannara Gillman is the Director of Program Services of the Institute for Financial Literacy®. Ms. Gillman began working with the Institute in 2004. In her years with the Institute she has implemented and delivered many credit counseling and financial education programs. As Director of Program Services Ms. Gillman oversees a growing staff of credit counselors and financial educators. Ms. Gillman has worked in management in retail settings as well as working as an educator in theatrical arts.

Ms. Gillman earned her Bachelor of Arts from University of Southern Maine and attended the University of Maine School of Law. She also holds the Certified Personal Finance Counselor™(CPFC) and Certified Educator in Personal Finance™(CEPF) designations from the Center for Financial Certifications™. She sits on the Family Selection Committee for Habitat for Humanity of Greater Portland and is very involved in local theater.

Insurance Specialist - TBD

The Insurance Specialist will present the spectrum of available policies that artists of differing fields might seek to purchase to most efficiently and responsibly run his/her commercial enterprise. It will also review statistics pertaining to those policies to help artists get a better idea whether insurance is advisable or not.