David Lowenthal

CPA, JD, LLM

Senior Tax Manager 

David is a Senior Tax Manager in Blackman Kallick’s Not-for-Profit Practice. He serves predominantly trade and professional associations, arts and cultural organizations, foundations, social service agencies, economic development organizations, private schools, and colleges and universities. David also works with socially and charitably minded high-net-worth individuals, as well as a number of for-profit organizations, such as manufacturing and hospitality companies.

His clients rely on him for:

• Determining and minimizing tax liability, including exposure to unrelated business income tax (UBIT)
• Determining tax implications of activities in foreign jurisdictions
• Leveraging Form 990 to meet the expectations of the IRS, the funding community, and the public 
• Educating boards of directors about governance responsibilities
• Representing clients before the IRS at both the examination and appeal levels
• Maximizing charitable giving opportunities for high-net-worth individuals through the establishment of charitable trusts, donor-advised funds, and private foundations
• Qualifying for and preserving tax-exempt status

David is one of those rare advisors who sees both the forest and the trees. His extensive experience and training as a CPA and JD allow him to analyze complex issues and provide actionable advice that not only minimizes tax liability but also maximizes growth opportunities. For example, David often helps associations and other 501(c)3 organizations establish charitable or research foundations and then allocate their activities between the two structures in the most tax-efficient manner. He also has the experience to help clients avoid penalties that can arise as a result of foreign activities, such as operating an entity in a foreign jurisdiction or hiring overseas employees.

David offers guidance to boards of directors regarding governance issues such as reasonable executive compensation and the necessity for thorough documentation to defend inquiries from regulatory agencies, the public, and the media.

Prior to joining Blackman Kallick, David spent several years as Tax Director in the not-for-profit practice of a Big Four accounting firm, where he helped solve tax issues for complex organizations such as The Humane Society of the United States, the National Rifle Association, and the American Bankers Association.

Credentials and Professional Involvement

David earned a BA in History from the University of Wisconsin-Madison, a JD from the University of Miami (Florida), and an LLM in Taxation (with distinction) from the Georgetown Law Center.

David was appointed to the IRS Great Lakes Area Tax-Exempt/Government Entities Council and is Vice Chairman of the Trade and Professional Association Committee of the Chicago Bar Association. He currently serves on the Finance Committee for his synagogue and as an audit committee member of the MS Society Chicago Chapter and the Jewish Student Union.

 

Articles by David Lowenthal

• IRS Loosens Employer Provided Cell Phone Rules
• Executive Summary: Certification — Same Activity, Different Result
• Certification — Same Activity, Different Result
• Changes to 2009 Form 990
• IRS Exams of Trade Associations Planned
• Private Foundation Tax Planning Update

News about David Lowenthal

• Lowenthal Presents at the Chicago Bar Association Federal Taxation Committee
• Lowenthal Presents at the 2011 Annual Association Law Symposium
• Lowenthal and Paige Present a Webinar for Illinois CPA Society
• Lowenthal Presents at the Chicago Bar Association Continuing Legal Education Seminar
• Lowenthal Presents at ICPA on Annual Federal Taxes
• Lowenthal Article, "How to Identify Taxable Income (UBTI)", Published in Association News
• Lowenthal Speaks on Federal Taxation at the Chicago Bar Association
• Lowenthal Speaks on Tax Development for Charitible Organizations