01.14.21
Can You Deduct Travel Costs to Monitor Real Estate Investment Properties? U.S. Tax Court Says Yes, Within Limits
The Internal Revenue Code allows the deduction of “ordinary and necessary” business expenses, including travel expenses while away from home overnight for business. A recent ruling by the U.S. Tax Court in Maki v. Comm’r, T.C. Summary 2019-34 (Tax Ct. 2019), is a good reminder that the deduction is subject to some restrictions. Taxpayer harvests […]

12.07.20
The Extended COVID-19 Qualified Opportunity Zone Relief Deadlines are Coming Due
The COVID-19 pandemic led the IRS to loosen a range of tax laws and regulations, including many deadlines. In June, the IRS issued guidance that provided relief from some qualified opportunity zone (QOZ) requirements — good news for investors with capital gains. With the end of the year approaching, many of those extended deadlines are […]

11.06.20
How to Make Your Property as Profitable as Possible
2020 has been unlike any other year. Commercial real estate investors have struggled with decreased market values — or the threat of declining values. In these uncertain times, ask yourself three questions to help maintain profits and preserve market value. Can You Trim Expenses? The value of commercial real estate is usually a function of net […]

11.19.20
Real Estate Group Newsletter – Fall 2020
ORBA's Real Estate Group's Fall newsletter explains why now is the time to review outstanding leases and covers IRS' proposed regulations on the changes made to Section 1031 (like-kind exchanges).

08.17.20
Real Estate Group Newsletter – Summer 2020
ORBA's Real Estate Group's Summer newsletter offers insight into property valuations and illustrates how COVID-19 is transforming commercial real estate.

06.02.20
Real Estate Group Newsletter – Spring 2020
ORBA's Real Estate Group's Spring newsletter offers insight into cost segregation studies and explains how the “retail glitch” was corrected with passing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

11.05.20
Legal, Financial and Tax Issues Affecting Real Estate in a COVID-19 Environment
Join ORBA’s Michael Kovacs, Jeffrey Newman, Thomas Kosinski, Tamara Partridge, Thomas Vance, Justin Sylvan, and guest speakers, John Morse, partner at Patzik Frank & Samotny, Ltd., and Alan Weel, senior vice president at Wintrust Commercial Real Estate, for a complimentary webinar discussing the legal, financial and tax implications of the pandemic on the real estate industry.

06.03.20
What You Need to Know About Paycheck Protection Program Loan Forgiveness
Join ORBA’s Frank L. Washelesky on Friday, May 29, for a complimentary webinar that will provide clarity on the PPP Loan Forgiveness rules. 

11.13.19
Tax Planning Strategies and Emerging Opportunities for Real Estate Professionals
The Tax Cuts and Jobs Act has paved the way to several significant tax-planning strategies that investors, owners, operators and other professionals in the real estate industry should know about. Between like-kind exchanges to the emerging popularity of qualified opportunity zones, there are many beneficial strategies to consider.

12.01.20
ORBA Joins the BDO Alliance USA
ORBA, one of Chicago’s largest public accounting firms, has joined the BDO Alliance USA, a nationwide association of independently-owned local and regional accounting, consulting and service firms with similar client service goals.

11.18.20
ORBA Ranks Among 2020 Largest Accounting Firms by Crain’s Chicago Business  
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), a full-service accounting, tax and business consulting firm, has been ranked as one of the largest accounting firms in Chicago, according to an annual survey published by Crain’s Chicago Business. ORBA has made Crain’s annual list every year since 2013.

11.12.20
The Chicago Tribune Features ORBA for its Proactive Approach to Diversity and Inclusion
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, was recently featured in The Chicago Tribune for its proactive, forward-thinking approach to diversity and inclusion.

01.11.21
Paycheck Protection Program Reopening for First and Second Draw Loans
On January 8, 2021, the Small Business Administration (SBA) announced that the Payroll Protection Program (PPP) will reopen this week.  The application deadline is March 31, 2021 or when the funds are exhausted.

01.11.21
New Stimulus Package Extends and Expands the Employee Retention Credit
The Employee Retention Credit (ERC) was created by the CARES Act on March 27, 2020 to encourage businesses to keep employees on their payroll and continue providing health care benefits during the coronavirus pandemic. The ERC is a refundable payroll tax credit for wages and health care costs paid by an employer whose operations were fully or partially suspended due to a COVID-19 related governmental order or experienced a significant reduction in gross receipts.  

12.29.20
President Signs a New Stimulus Package
On December 21, 2020, Congress passed the Consolidated Appropriations Act 2021 (the “Act”), a massive tax, funding and spending bill that contains a nearly $900 billion coronavirus aid package. The emergency coronavirus relief package aims to bolster the economy, provide relief to small businesses and the unemployed, deliver checks to individuals, and provide funding for COVID-19 testing and the administration of vaccines.

04.08.19
Various Media – ORBA Appoints Chief Financial Officer
ORBA is mentioned in the media for announcing the appointment of Cara Sample, CPA, as Chief Financial Officer of the firm. Reporting media include Yahoo! Finance, Spoke, The Daily Herald, NewsBlaze, Star Tribune and ABC 7. View the official press release.

04.04.19
Various Media – ORBA Ranked Among 2019 ‘Top Firms to Watch’ by Accounting Today
ORBA is mentioned in the media for being ranked among the “Beyond the Top 100: Firms to Watch” list for 2019, as well being listed among the top 20 firms in the Great Lakes Region.

01.10.19
Various Media – ORBA Launches ORBA Wealth Advisors
ORBA was mentioned in the media for its announcement of the launch of ORBA Wealth Advisors, LLC. Reporting media include Wealth Adviser, Verdict, Yahoo! Finance, the Daily Herald and Merril Edge. View the official press release.

12.01.20
ORBA Joins the BDO Alliance USA
ORBA, one of Chicago’s largest public accounting firms, has joined the BDO Alliance USA, a nationwide association of independently-owned local and regional accounting, consulting and service firms with similar client service goals.

11.18.20
ORBA Ranks Among 2020 Largest Accounting Firms by Crain’s Chicago Business  
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), a full-service accounting, tax and business consulting firm, has been ranked as one of the largest accounting firms in Chicago, according to an annual survey published by Crain’s Chicago Business. ORBA has made Crain’s annual list every year since 2013.

11.12.20
The Chicago Tribune Features ORBA for its Proactive Approach to Diversity and Inclusion
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, was recently featured in The Chicago Tribune for its proactive, forward-thinking approach to diversity and inclusion.