--- title: Articles description: Richard Colombik. Richard M. Colombik & Associates, P.C. is a law firm concentrating in Strategic Tax Planning, Asset Protection, Business Entity image: https://www.richardcolombik.com/hubfs/First%20person%20perspective%20hand%20typewriting%20with%20flying%20documents%20around.jpeg --- [![RMC-logo-svg](https://www.richardcolombik.com/hubfs/RMC-logo-svg.svg)](https://www.richardcolombik.com) - [Welcome](https://www.richardcolombik.com) - [Services](https://www.richardcolombik.com/services) - [IRS](https://www.richardcolombik.com/services/irs) - [Tax Reduction Planning Services](https://www.richardcolombik.com/services/tax-reduction-planning-services) - [Business Entity Structuring and Transactions](https://www.richardcolombik.com/services/business-entity-structuring-and-transactions) - [Asset Protection](https://www.richardcolombik.com/services/asset-protection) - [Real Estate](https://www.richardcolombik.com/services/real-estate) - [Estate Planning](https://www.richardcolombik.com/services/estate-planning) - [Retirement Planning](https://www.richardcolombik.com/services/retiremen-plans) - [Company](https://www.richardcolombik.com/company) - [Insights](https://www.richardcolombik.com/articles) - [Contact](https://www.richardcolombik.com/contact) Search *Search* Search *Search* - [Welcome](https://www.richardcolombik.com) - [Services *Toggle Menu*](https://www.richardcolombik.com/services) - [IRS](https://www.richardcolombik.com/services/irs) - [Tax Reduction Planning Services](https://www.richardcolombik.com/services/tax-reduction-planning-services) - [Business Entity Structuring and Transactions](https://www.richardcolombik.com/services/business-entity-structuring-and-transactions) - [Asset Protection](https://www.richardcolombik.com/services/asset-protection) - [Real Estate](https://www.richardcolombik.com/services/real-estate) - [Estate Planning](https://www.richardcolombik.com/services/estate-planning) - [Retirement Planning](https://www.richardcolombik.com/services/retiremen-plans) - [Company](https://www.richardcolombik.com/company) - [Insights](https://www.richardcolombik.com/articles) - [Contact](https://www.richardcolombik.com/contact) [*Facebook*](https://www.facebook.com/people/Richard-M-Colombik-Associates-PC/100063841561075/) [*LinkedIn*](https://www.linkedin.com/in/richard-colombik-9717b56) [*Twitter*](https://twitter.com/rcolombik) # Latest insights #### Focused on strategic tax planning, asset protection, and complex business and estate tax planning. Filter by Tag All Tax Planning Corporate & LLC Investments Press Release Tax Defense Tax Update announcement Asset Protection Barter Charitable Estate Planning Retirement Plans #### Stay in the know #### [Usage Of C Corporations Require Adherence to the Form and Substance](https://www.richardcolombik.com/articles/usage-of-c-corporations-require-adherence-to-the-form-and-substance) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : Jun 23, 2022 12:37:23 PM 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... [Corporate & LLC](https://www.richardcolombik.com/articles/tag/corporate-llc) [Read More](https://www.richardcolombik.com/articles/usage-of-c-corporations-require-adherence-to-the-form-and-substance) #### [Prime Rate Funds](https://www.richardcolombik.com/articles/prime-rate-funds) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:29:43 PM Do your bonds have you feeling shaky since interest rates have no where to go but up? [Investments](https://www.richardcolombik.com/articles/tag/investments) [Read More](https://www.richardcolombik.com/articles/prime-rate-funds) #### [Irrevocable Insurance](https://www.richardcolombik.com/articles/irrevocable-insurance) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:17:08 PM 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... [Estate Planning](https://www.richardcolombik.com/articles/tag/estate-planning) [Read More](https://www.richardcolombik.com/articles/irrevocable-insurance) #### [Increase a Foundation’s Endowment](https://www.richardcolombik.com/articles/increase-a-foundations-endowment) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:14:34 PM Considering the importance of a healthy charitable Foundation for funding higher education, charities, special programs, activities and academic... [Charitable](https://www.richardcolombik.com/articles/tag/charitable) [Read More](https://www.richardcolombik.com/articles/increase-a-foundations-endowment) #### [The Series Limited Liability Company](https://www.richardcolombik.com/articles/the-series-limited-liability-company) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:13:40 PM 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... [Corporate & LLC](https://www.richardcolombik.com/articles/tag/corporate-llc) [Read More](https://www.richardcolombik.com/articles/the-series-limited-liability-company) #### [Family Limited Partnerships](https://www.richardcolombik.com/articles/family-limited-partnerships) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:12:47 PM Family Limited Partnerships, hereinafter “FLP’ are a special type of limited partnership, that can be used in conjunction with an estate plan, an... [Corporate & LLC](https://www.richardcolombik.com/articles/tag/corporate-llc) [Read More](https://www.richardcolombik.com/articles/family-limited-partnerships) #### [Representation Before the Collection Division of the IRS-Know Your Rights](https://www.richardcolombik.com/articles/representation-before-the-collection-division-of-the-irs-know-your-rights) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:11:44 PM **DO YOU OWE THE IRS?** Congress has granted the Internal Revenue Service awesome powers to collect delinquent taxes. These powers include the right to... [Tax Defense](https://www.richardcolombik.com/articles/tag/tax-defense) [Read More](https://www.richardcolombik.com/articles/representation-before-the-collection-division-of-the-irs-know-your-rights) #### [Tax Tips](https://www.richardcolombik.com/articles/tax-tips) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 9:09:38 PM **RETIREMENT PLAN CONTRIBUTIONS MAY ALMOST BE UNLIMITED?** [Retirement Plans](https://www.richardcolombik.com/articles/tag/retirement-plans) [Read More](https://www.richardcolombik.com/articles/tax-tips) #### [Income Tax Updates 82196-Damages Awarded for IRS Viollation of Automatic Stay](https://www.richardcolombik.com/articles/income-tax-updates-82196-damages-awarded-for-irs-viollation-of-automatic-stay) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 12:50:02 PM #### DAMAGES AWARDED FOR IRS VIOLATION OF AUTOMATIC STAY [Tax Update](https://www.richardcolombik.com/articles/tag/tax-update) [Read More](https://www.richardcolombik.com/articles/income-tax-updates-82196-damages-awarded-for-irs-viollation-of-automatic-stay) #### [Income Tax Updates](https://www.richardcolombik.com/articles/income-tax-updates-4) ![Picture of Richard M. Colombik](https://www.richardcolombik.com/hubfs/richard_colombik.jfif) [Richard M. Colombik](https://www.richardcolombik.com/articles/author/richard-m-colombik) : May 4, 2022 12:47:24 PM #### Taxpayer’s Testimony Overcomes Irs [Tax Update](https://www.richardcolombik.com/articles/tag/tax-update) [Read More](https://www.richardcolombik.com/articles/income-tax-updates-4) [1](https://www.richardcolombik.com/articles/page/1) [2](https://www.richardcolombik.com/articles/page/2) [3](https://www.richardcolombik.com/articles/page/3) [4](https://www.richardcolombik.com/articles/page/4) [5](https://www.richardcolombik.com/articles/page/5) [Next](https://www.richardcolombik.com/articles/page/2) ##### Contact Information **Richard M. Colombik & Associates, P.C.** Award-winning law firm   1701 E. Woodfield Rd. Suite #327, Schaumburg, IL 60173 Phone: [(630) 250-5700](tel:(630)%20250-5700) Fax: [(847)-908-8136](fax:8479088136) Email: [rcolombik@colombik.com](mailto:rcolombik@colombik.com) ##### Services - [IRS](https://www.richardcolombik.com/services/irs) - [Tax Reduction Planning Services](https://www.richardcolombik.com/services/tax-reduction-planning-services) - [Business Entity Structuring and Transactions](https://www.richardcolombik.com/services/business-entity-structuring-and-transactions) - [Asset Protection](https://www.richardcolombik.com/services/asset-protection) - [Real Estate](https://www.richardcolombik.com/services/real-estate) - [Estate Planning](https://www.richardcolombik.com/services/estate-planning) - [Retirement Planning](https://www.richardcolombik.com/services/retiremen-plans) [![RMC-logo-white-gold](https://www.richardcolombik.com/hubfs/branding/RMC-logo-white-gold.svg)](https://www.richardcolombik.com) - [Terms of Use](https://www.richardcolombik.com/terms-of-use) - [Privacy Policy](https://www.richardcolombik.com/privacy-policy) © 2026 Richard M. 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