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

CAPTIVE INSURANCE COMPANIES inc publication

Captive insurance companies have been growing by leaps and bounds.  A captive is an   insurance company that insures the risks of its parent...

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Government Will Help You Buy Exotic Cars

Or am I really limited to writing off only $2,960 in the first year? That is right, if you follow the advice and directions in this article the...

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Loan Or Dividend?

An important distinction to the owner of a C corporation, but not essential to a flow through entity, S corporation, Limited Liability, or...

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New Tax Breaks For Businesses 2009

As the economy teeters on the brink of collapse, our elected officials have tried to provide some provisions to benefit businesses. Not many, but at...

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Personal Injury Lawyers Get Tax Break

In James F. Boccardo vs. Commissioner, 56 F.3d 1016 (9th. Cir. 1995) the 9th Circuit Court of Appeals modified well established case law and...

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3 min read

Sale of Residence Exclusion

A home is many times the largest asset that one owns. The rules for excluding the gain from the sale of a taxpayer's residence were...

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Tax Updates-Yachting Can Mean Big Tax Deductions

Most people are aware that the IRS takes a strict interpretation into nine deductions from potential hobby activities that arguably could be called...

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The Last Tax Shelter

Tax shelters have been a bad word since legislation was designed to eliminate what was considered abusive. From the sweeping language of the Tax...

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Savvy Investor Column-Fall 2002

Stocks are up. Stocks are down. US Airways seeks bankruptcy. United Airlines considers bankruptcy. American Airlines set to downsize.

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