08.26.20
The Tax Importance of Having a Profit Motive
Individuals with real estate businesses often expect to deduct business-related expenses for tax purposes. But those tax deductions might not be a guarantee. One married taxpayer recently learned the hard way when the IRS disputed business deductions that led them to the U.S. Tax Court. Sarkin v. Commissioner provides a helpful overview of how the […]

07.21.20
Reintroducing Accessory Dwelling Units in Chicago
Accessory dwelling units (ADUs) have become popular rental alternatives in urban areas across the U.S. over recent years. Many cities, including Portland, Los Angeles, San Francisco and Washington, D.C., have already embraced the concept of offering these unconventional homes to offset the rising costs of housing within city limits. Now, more cities are evaluating current […]

07.01.20
What You Need to Know About the CARES Act and Qualified Improvement Property
Earlier this year, the Coronavirus Aid, Relief, and Economic Security (CARES) Act corrected a drafting error related to real estate qualified improvement property (QIP). This retroactive correction, which accelerates the tax depreciation deduction for certain improvements to real estate, is of particular benefit to: Landlords and tenants who make improvements to leased space; restaurant, hotel […]

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.

02.20.20
Real Estate Group Newsletter – Winter 2020
ORBA's Real Estate Group's winter newsletter offers insight into IRR waterfalls and provides information on commercial gross-up provisions.

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.

04.13.20
ORBA Named to Accounting Today’s 2020 “Beyond the Top 100: Firms to Watch”
Ostrow Reisin Berk & Abrams, Ltd. (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 2020.  

04.17.19
ORBA Announces Cloud CFO and Accounting Service Hires
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to welcome Carissa Coppola as an Associate in the Accounting Services Department, and Emily Cohen, Jason Dion and Joshua Trezek as Associates in the Cloud CFO Services Department

04.08.19
ORBA Appoints Chief Financial Officer
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to announce the appointment of Cara Sample, CPA, as Chief Financial Officer.

09.29.20
Compare and Contrast: How do the Republican and Democratic Tax Plans Differ?
With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s positions on such issues as the COVID-19 pandemic, health care, the environment and taxes. Among their many differences, President Donald Trump and former Vice President Joe Biden have widely divergent tax proposals.

09.02.20
Providing Employees With Tax-Free COVID-19 Assistance: What Employers Need to Know
Are your employees struggling with unexpected medical, work-from-home, childcare or other expenses as a result of the COVID-19 pandemic? If so, a little-known tax law allows you to make tax-free payments to employees to help them cover these expenses.

09.01.20
Pitfalls of Executive Payroll Tax Deferral
The IRS issued guidance (Notice 2020-65) implementing President Trump’s executive action to defer the employee portion of the Social Security payroll tax. The guidance is brief, leaving employers with questions about whether, and how, to implement the deferral.

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.

01.02.19
Various Media – Crain’s Business Ranks ORBA Among Chicago’s Largest Accounting Firms
ORBA was recently mentioned in the media for being ranked 18th out of the 25 largest accounting firms in Chicago, listed by Crain’s Chicago Business. Reporting media include MarketWatch, Pittsburgh Business Times, the Daily Herald, Daily Penny Alerts and Chicago City Room. View the official press release.

06.08.20
Message from Managing Director Mark Thomson
Over the past two weeks, I have watched the many peaceful protests across the City of Chicago, our local communities and across the nation. People of all backgrounds are speaking out against the continuing injustice against people of color, specifically Black people.

04.17.19
ORBA Announces Cloud CFO and Accounting Service Hires
Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to welcome Carissa Coppola as an Associate in the Accounting Services Department, and Emily Cohen, Jason Dion and Joshua Trezek as Associates in the Cloud CFO Services Department

04.08.19
ORBA Appoints Chief Financial Officer
CHICAGO — Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is pleased to announce the appointment of Cara Sample, CPA, as Chief Financial Officer.