03.25.21
Consider a Turnaround Strategy for COVID-19 Problems
The COVID-19 pandemic has affected many people and businesses across the country. After a year has passed, many thriving businesses are now barely breaking even while struggling businesses have been closed permanently. This can leave both property owners and landlords in financial trouble, because a loss of tenants and rent may cause buildings to fall […]

02.04.21
Finalized Rehabilitation Credit Regulations and COVID-19 Extensions
The Rehabilitation Tax Credit (Internal Revenue Code’s Section 47) is a tax incentive for investors to renovate and restore old and historic buildings within cities and towns. The purpose of the credit is to promote historic structures’ rehabilitation; therefore, related building reconstruction costs, including new construction, are applicable under the credit. Under the Tax Cuts […]

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 […]

02.17.21
Real Estate Group Newsletter – Winter 2021
ORBA's Real Estate Group's Winter newsletter reviews coverage audits and their impact on a project’s profitability and covers the Consolidated Appropriations Act (CAA) tax-related provisions for the real estate world.

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.

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.

03.10.21
ORBA Named to Accounting Today’s 2021 “Beyond the Top 100: Firms to Watch”  
ORBA, one of Chicago’s largest public accounting firms, has been named as one of Accounting Today’s “Beyond the Top 100: Firms to Watch” for 2021. The firm is also ranked among the top 20 firms in the Great Lakes Region.

01.28.21
ORBA Winner of 2021 Top Workplaces USA Award Firm — Firm also Recognized on the Top Workplaces USA Financial Services List
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that it has earned the 2021 Top Workplaces USA Award. The firm was also recognized on the 2021 Top Workplaces USA Financial Services Industry list, issued by Energage. This is the inaugural year for the Top Workplaces USA Awards.

12.19.20
ORBA Launches Women’s Alliance Group
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that it has established a women’s initiative group called the Women's Alliance Group. Leading the group’s initiatives are Jacqueline Janczewski, CPA, MBT and Cara M. Wills, CPA.

03.31.21
PPP Application Deadline Extended
President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021 to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications.

03.22.21
Make the Most of the Employee Retention Credit
The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many employers. With the new American Rescue Plan Act (ARPA) extending the credit and expanding eligibility — and the credit worth as much as $28,000 per employee for 2021 — employers should brush up on the details.

03.18.21
Individual Federal and Illinois Income Tax Deadline for 2020 Tax Filings and Payments Pushed Back to May 17, 2021
The Internal Revenue Service and the State of Illinois have officially moved the 2020 income tax filing deadline for individuals to May 17, 2021 from April 15, 2021. Individual taxpayers can also postpone Federal and Illinois income tax payments due for the 2020 tax year to May 17, 2021 without incurring additional penalties or interest.

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.

03.10.21
ORBA Named to Accounting Today’s 2021 “Beyond the Top 100: Firms to Watch”  
ORBA, one of Chicago’s largest public accounting firms, has been named as one of Accounting Today’s “Beyond the Top 100: Firms to Watch” for 2021. The firm is also ranked among the top 20 firms in the Great Lakes Region.

01.28.21
ORBA Winner of 2021 Top Workplaces USA Award Firm — Firm also Recognized on the Top Workplaces USA Financial Services List
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that it has earned the 2021 Top Workplaces USA Award. The firm was also recognized on the 2021 Top Workplaces USA Financial Services Industry list, issued by Energage. This is the inaugural year for the Top Workplaces USA Awards.

12.19.20
ORBA Launches Women’s Alliance Group
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that it has established a women’s initiative group called the Women's Alliance Group. Leading the group’s initiatives are Jacqueline Janczewski, CPA, MBT and Cara M. Wills, CPA.