Recent high quality broad-band X-ray and gamma-ray observations of Galactic black holes byASCA, Ginga, RXTE,andCGROshow that the spectra cannot be described by simple thermal Comptonization models (even including a fully relativistic treatment). Multi-component models accounting for Comptonization by thermal and non-thermal electrons, Compton reflection of X/&ggr;-rays from cold matter, and emission of the optically thick accretion disk are required. In this review, I discuss recent advances in the spectral modeling of Galactic black holes and Seyferts and the codes available for such an analysis. ©1998 American Institute of Physics.