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Subchapter J Federal Income Taxation of Estates and Trusts

Subchapter J Federal Income Taxation of Estates and Trusts By:  Richard M. Colombik, JD, CPA Bruce Willey, JD, CPA       Federal taxation of estates, trusts and the beneficiaries thereof present...

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Tax Planning Under the New Law

Tax Planning Under the New Law By: Richard M. Colombik, JD, CPA       Tax planning keeps twisting and turning in the wind.  This is due to the our government blowing in the  winds of change and trying...

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Tax Tips-Highlights of New Tax Act

Tax Tips-Highlights of New Tax Act BY  RICHARD M. COLOMBIK, JD, CPA  On August 5th, 1997, President Clinton signed the Tax Relief Act of 1997.  The majority of the changes apply for years beginning...

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Tax Tips-TCMP II The Fair Taxpayer Compliance Manual Project

Tax Tips-TCMP II The Fair Taxpayer Compliance Manual Project TAX TIPS BY RICHARD M. COLOMBIK, JD, CPA TCMP II – The Fair Taxpayer Compliance Manual Project         The Taxpayer Compliance Monitoring...

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Tax Tips 8-29-02-Who Gets the Deduction

Tax Tips 8-29-02-Who Gets the Deduction TAX TIPS  BY  RICHARD M. COLOMBIK, JD, CPA  WHO GETS THE DEDUCTION? Many closely held business owners, particularly of S corporation, sometimes forget that...

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Tax Updates-Yachting Can Mean Big Tax Deductions

Tax Updates-Yachting Can Mean Big Tax Deductions TAX UPDATES BY RICHARD M. COLOMBIK, JD, CPA       Most people are aware that the IRS takes a strict interpretation into nine deductions from potential...

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The Last Tax Shelter

The Last Tax Shelter by Richard M. Colombik, JD, CPA  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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What Business Entity Makes Sense For Your Firm

BUSINESS ORGANIZATIONS 101   WHAT BUSINESS ENTITY MAKES SENSE FOR YOUR FIRM? by Richard M. Colombik, JD, CPA   Richard M. Colombik & Associates, P.C. One Pierce Place #460E Itasca, Il.  60143...

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What the IRS giveth the IRS taketh Away107

What the IRS giveth the IRS taketh Away107 By Richard M. Colombik, JD, CPA Richard M. Colombik & Associates, P.C. www.colombik.com 630-250-5700  In a prior column I wrote extensively on the usage...

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When Is Compensation Reasonable

When Is Compensation Reasonable  RICHARD M. COLOMBIK JD, CPA RICHARD M. COLOMBIK & ASSOCIATES, P.C.          A taxpayer is allowed a deduction for ?a reasonable allowance for salaries or other...

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