12.12.24
Conventional vs. FHA Mortgages: Weighing the Pros and Cons
With home prices in many areas continuing to climb and mortgage rates still high compared to just a few years ago, many would-be buyers cannot afford the 20% down payment often required for a conventional mortgage. FHA loans may provide an affordable alternative for these individuals, but both types of mortgages come with potential advantages […]

07.23.24
Short-Term Rentals and Taxes: What Hosts Need to Know
Short-term rentals (STRs) offered through platforms such as Airbnb and VRBO have become a common part of vacation planning. If you have ever stayed in someone else’s home instead of a hotel, you may have thought about how you, too, could profit by renting out part or all of your own property. It may seem […]

05.08.24
Delaware Statutory Trusts: Are They Right for You?
Both established real estate investors and those interested in dipping their toes into the commercial real estate pool increasingly are considering acquiring interests in Delaware statutory trusts (DSTs). While these vehicles come with several potential benefits, they are not for everyone. Here is what you need to know. How DSTs Work When you invest in […]

11.27.24
Real Estate Group Newsletter – Fall 2024
ORBA's Real Estate Group's Fall Newsletter weighs the pros and cons of short-term rentals (STRs), which are typically more profitable than a standard 12-month lease. However, they involve complex tax rules.

09.12.24
Real Estate Group Newsletter – Summer 2024
ORBA's Real Estate Group's Spring Newsletter discusses the various legal and tax considerations of owning various types of real estate, including out of state residential rentals.

06.06.24
Real Estate Group Newsletter – Spring 2024
ORBA's Real Estate Group's Spring Newsletter discusses the various legal and tax considerations of owning various types of real estate, including out of state residential rentals.

05.18.22
The Financial Reporting Framework for Small- and Medium-Sized Entities: The GAAP Alternative for the Back Bone of America
As a banking professional, you’ve undoubtedly noticed that accounting principles generally accepted in the United States of America (US GAAP) has become increasingly complex in recent years, especially for the middle market companies who comprise the back bone of the US economy. With limited resources available to devote to the accounting function, software that does […]

11.04.21
Real Estate Tax Planning in an Uncertain Tax Environment
The economic effects of the COVID-19 pandemic, coupled with proposed tax legislation, have laid an unstable foundation for professionals in the real estate industry. Join members of ORBA’s Real Estate Group for a complimentary webinar, moderated by Jeffrey Newman, as they discuss the unique tax challenges that are currently top of mind for many professionals in the industry.

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.

12.10.24
ORBA Welcomes Paige Kirkland as Senior Manager of Family Office Services
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Kristen “Paige” Kirkland, has joined the firm as Senior Manager and head of its Family Office Services.

12.10.24
ORBA Launches Family Office Services Group
CHICAGO — ORBA, one of Chicago’s leading public accounting firms, is excited to announce the launch of its Family Office Services Group.

11.07.24
ORBA Adds Oak Brook Office to its Accounting, Tax and Advisory Practice
OAK BROOK, IL — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest full-service accounting, tax, and advisory firms, proudly announces the opening of a new suburban office in Oak Brook, Illinois. 

01.14.25
Attention All Illinois Taxpayers: The Illinois Gives Tax Credit Act
For tax years ending on or after December 31, 2025, the program created under this Act offers a state income tax credit to individuals and businesses that submit an application through MyTax Illinois and, following approval of the application, contribute to permanent endowment funds held by Qualified Community Foundations (QCFs).  Subject to the limitations referenced below, the state income tax credit is equal to 25% of the amount contributed.

01.06.25
Expiring TCJA Provisions Could Significantly Alter the Federal Income Tax Landscape for Business Entities after 2025
When the Tax Cuts and Jobs Act (TCJA) was signed into law in 2017, it substantially altered the U.S. income tax landscape that had existed since 1986. Many of these changes, however, were temporary and will automatically be reversed for tax years beginning on or after January 1, 2026, unless Congress acts. Therefore, you should prepare for the possibility that temporary TCJA changes will be reversed and plan accordingly. This Client Alert highlights some of the temporary TCJA provisions impacting income tax for business entities that are scheduled to be reversed for tax years beginning on or after January 1, 2026.

01.02.25
1099-MISC vs. 1099-NEC
In 2021, the IRS released a new form: Form 1099-NEC. This form is still in use for 2024, along with Form 1099-MISC. However, there seems to be some ongoing confusion over which form to use. This Client Alert will provide you with some general guidelines and resources to help you determine whether you should file Form 1099-NEC or Form 1099-MISC. It will also address the new e-filing requirement that has been implemented for the upcoming filing season.

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.

12.10.24
ORBA Welcomes Paige Kirkland as Senior Manager of Family Office Services
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Kristen “Paige” Kirkland, has joined the firm as Senior Manager and head of its Family Office Services.

12.10.24
ORBA Launches Family Office Services Group
CHICAGO — ORBA, one of Chicago’s leading public accounting firms, is excited to announce the launch of its Family Office Services Group.

11.07.24
ORBA Adds Oak Brook Office to its Accounting, Tax and Advisory Practice
OAK BROOK, IL — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest full-service accounting, tax, and advisory firms, proudly announces the opening of a new suburban office in Oak Brook, Illinois.