Richard M. Colombik

Richard M. Colombik & Associates, P.C. is a law firm concentrating in Strategic Tax Planning, Asset Protection, Business Entity Structuring and Transactions, Complex Estate Plans, IRS Defense and Business Planning. The 10 person firm is headed by Richard M. Colombik, an award winning Attorney, CPA with a Doctorate in Jurisprudence with Distinction, who was formerly on the tax staff of one of the world's wealthiest families. Mr. Colombik has also been a tax manager at a Big Four accounting firm, the State Bar's liaison to the Internal Revenue Service, Vice President of the American Association of Attorney-CPAs, Vice Chairman of the American Bar Association’s Tax Section of the General Practice Council, as well as the past Chair of the Illinois State Bar Association’s Federal Tax Committee. Mr. Colombik also served on the liaison committee to the Washington, D.C. National Office of the IRS for the American Association of Attorney-CPA's Inc., is a member of the Asset Protection Committee, ABA, as well as their subcommittee on Captive Insurance. Mr. Colombik has appeared on numerous television shows, hosted a weekly radio show on tax and business planning, and authored numerous articles on income taxation, asset protection planning, IRS defense and estate planning. This is in addition to authoring a published work on Business Entity Structures offered by the Illinois Institute of Continuing Legal Education, as well as being a featured speaker to business groups, civic groups, bar associations and professional groups. If the issue is strategic tax planning, asset protection, or complex business and estate tax planning, Richard M. Colombik & Associates, P.C. is the firm to contact. Specialties: Tax Planning, Asset Protection, Business Entity Structuring and Transactions for Closely Held Companies, Complex Estate Plans, IRS Defense and Business Planning

Usage Of C Corporations Require Adherence to the Form and Substance

For all clients who use a multiple corporation set up, they are aware that they must submit invoices for services performed. The services must be actually performed and at an arm’s length pricing. The contract between the companies must be in...

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Prime Rate Funds

Do your bonds have you feeling shaky since interest rates have no where to go but up?

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Irrevocable Insurance

The Revocable Living Trust is a trendy topic for seminar these days. When you strip away all the hype, however, the Revocable Living Trust is merely...

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Increase a Foundation’s Endowment

Considering the importance of a healthy charitable Foundation for funding higher education, charities, special programs, activities and academic...

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The Series Limited Liability Company

The Delaware legislature created a new form of legal entity by amending their Limited Liability Company Act in 1996.1 This new entity was named “The...

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Family Limited Partnerships

Family Limited Partnerships, hereinafter “FLP’ are a special type of limited partnership, that can be used in conjunction with an estate plan, an...

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Representation Before the Collection Division of the IRS-Know Your Rights

DO YOU OWE THE IRS? Congress has granted the Internal Revenue Service awesome powers to collect delinquent taxes. These powers include the right to...

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Tax Tips

RETIREMENT PLAN CONTRIBUTIONS MAY ALMOST BE UNLIMITED?

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Income Tax Updates 82196-Damages Awarded for IRS Viollation of Automatic Stay

DAMAGES AWARDED FOR IRS VIOLATION OF AUTOMATIC STAY

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Income Tax Updates

Taxpayer’s Testimony Overcomes Irs

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