Services
Overview
Adam Levine has been with ORBA since 2005 and is a member of the firm’s Real Estate and Wealth Management Groups. Adam has spent his career serving individuals, partnerships and privately-held corporations. He oversees audits, reviews and monthly accounting engagements for not-for-profits, professional service firms, and service organizations, as well as software and information technology companies. In addition to accounting and auditing services, Adam provides tax planning, business consulting, financial planning, and tax compliance consulting.
Services
Overview
Adam Levine has been with ORBA since 2005 and is a member of the firm’s Real Estate and Wealth Management Groups. Adam has spent his career serving individuals, partnerships and privately-held corporations. He oversees audits, reviews and monthly accounting engagements for not-for-profits, professional service firms, and service organizations, as well as software and information technology companies. In addition to accounting and auditing services, Adam provides tax planning, business consulting, financial planning, and tax compliance consulting.
Proactive
Adam prides himself on getting to know his clients and learning how he can help meet their needs. These personal relationships often mean attending meetings at clients’ sites and interacting with them so that he can bring value to the service that he provides. Adam often calls his clients to keep them abreast with new tax and accounting regulations as well as suggests opportunities for his clients to succeed.
Outside of the Office
Outside of the office, Adam spends his time with his wife and young daughters, organizing everyone’s schedules. When he is not at work or at home, he can be found on the tennis court where he was once a tennis instructor, and looks forward to the day that his daughters start taking lessons.
Civic Activities
- Center for Independent Futures
Former Board Treasurer
Certifications & Licenses
- Certified Public Accountant
- CERTIFIED FINANCIAL PLANNER®
- Personal Financial Specialist
Memberships & Affiliations
- American Institute of Certified Public Accountants
- Financial Planning Association
- Illinois CPA Society
Education
- B.S., Accounting and Finance, Indiana University
Blogs
Deferring a Tax Hit With a Section 1031 Exchange
Do you own commercial or investment real estate that has substantially increased in value? If you sell the property, you may be hit with a huge capital gain tax liability. A possible solution: Consider a Section 1031 exchange (also known as a like-kind exchange) in which you swap qualifying properties while paying zero or little […]
How To Use Smart Technologies Smartly
In response to buyer and tenant expectations to be competitive in the market, many owners and developers are regularly incorporating smart technologies in their projects. Buyers and tenants also understandably have expectations regarding cybersecurity measures. The risks are real, but they can be significantly reduced with forethought and vigilance. Identify inherent risks Smart technologies almost […]
Nonqualified Deferred Compensation Plans Offer Important Benefits — And Some Notable Risks
Nonqualified deferred compensation (NQDC) plans allow you to set aside large amounts of tax-deferred compensation — well beyond the contribution limits for 401(k)s and other qualified plans. Many NQDC plans also give you the flexibility to schedule distributions to align with your financial goals. However, NQDC plans also pose substantial risks, including loss of compensation […]
LLCs: How Limited Is Your Liability?
Many real estate investors hold title to their investment properties through a limited liability company (LLC). While LLC rules vary by state, this structure protects real estate investors from personal liability beyond the member’s equity investment. The administration of an LLC is fairly uncomplicated and, in addition, may offer potential tax benefits; however, there are […]
Capital Gains Planning: When Timing is Everything
The timing of capital gains and losses may have a significant impact on your tax bill. So it pays to consider the tax implications before you sell investments, particularly as the end of the year approaches. The Long and short of it Generally, the longer you hold an appreciated investment, the better. It allows you […]
Dollar Cost Averaging has an Unexpected Price Attached
Many investors use dollar cost averaging (DCA) to reduce their average cost per share and lower the risk that they’ll make a substantial investment just before the market plummets. Although DCA offers some peace of mind, it also comes at a price.
Start the Year Right: Review Withholding and Estimate Tax Payments
Has this ever happened to you? Income tax time rolls around and you realize that over the course of the year, you haven’t withheld enough or failed to make estimated tax payments that you should have. You now owe the IRS money, even before factoring in underpayment penalties and interest. Many taxpayers make this mistake, […]
What Kind of Insurance Does the Project Need?
Every business requires comprehensive insurance coverage to protect its assets and income. However, property owners and developers need to consider more than just general liability, workers’ compensation and business interruption policies. Here is a quick overview of what else may be necessary.
Is There Unclaimed Property with Your Name on It?
State unclaimed property programs are holding nearly $42 billion in assets, just waiting to be claimed by their rightful owners. This brief article explains how to search databases for unclaimed property and how to prove ownership.
Protect Yourself from Tax Identity Theft
Tax identity theft is a serious problem, and is only getting worse. This article provides information on the number and types of tax identity fraud incidents as well as tips for avoiding becoming a victim. For those whose identity is stolen, the article explains how to limit the damage.
Renting Property to Your Business Could Backfire on Your Tax Liability
If a taxpayer owns both property and a business, it just makes sense to lease the property to the business, right? Not always. This article highlights how this approach could bring on some dire tax consequences.
How Should Rent Escalation Clauses Address CPI?
Rent escalation clauses are a common part of commercial property leases. One particularly popular method for calculating the escalation amount bases the rent increase on changes in the Consumer Price Index (CPI). The CPI approach isn’t as straightforward as it might seem, though. This article explains some of the different types of CPIs.
Five Ideas for Cutting Overhead Costs at Your Law Firm
This blog offers five suggestions to cut overhead and improve profitability at your law firm: Renegotiating the office lease, outsourcing services, buying smarter, reviewing employee benefits and making the most of technology.
Four Tips for Communicating with Associates and Staff
Most law firm partners and key members of management have never received formal training in managing people effectively. The following tips can help partners communicate with associates and staff in positive, productive ways.
What is a Mission Statement and What Makes it Effective?
Most people often believe that a charitable organization develops a mission statement for internal purposes with the added benefit of drawing in donations. However, mission statements not only express the purpose of the charity, but also create the foundation for success.
Newsletters
Wealth Management Group Newsletter – Spring 2023
ORBA’s Wealth Management Group’s Spring 2023 Newsletter offers advice on making the most of your flexible spending account for healthcare and warns of the most common mistakes in estate planning.
Wealth Management Group Newsletter – Spring 2022
ORBA’s Wealth Management Group Newsletter explains how inflation can slow the growth of certain assets and erode the purchasing power of investments. The newsletter also illustrates what retirement savers should do if they have maxed out their 401(k) contributions.
Wealth Management Group Newsletter – Summer 2021
ORBA’s Wealth Management Group Newsletter details U.S. federal tax consequences for businesses and individuals that hold or transact in virtual currency and looks into assessing a state’s tax-friendliness when deciding where to retire.
Real Estate Group Newsletter – Summer 2021
ORBA’s Real Estate Group’s Newsletter highlights the Consolidated Appropriations Act’s critical provisions relevant to real estate businesses and summarizes the Homeowner Assistance Fund, created by the latest COVID-19 relief package.
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.
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.
Real Estate Group Newsletter – Spring 2019
Our Real Estate Group’s Spring 2019 Newsletter provides an update on the IRS’s “compliance campaign” against large land developers of residential communities for improper use of the more taxpayer-friendly completed contract method (CCM) of accounting, as well as advice on what not to do in like-kind exchanges.
Real Estate Group Newsletter – Summer 2018
How to opt out of the new partnership audit rules ANITA WESCOTT, CPA Many real estate businesses are formed as partnerships. Beginning this year, the IRS is applying new procedures to its partnership audits. Under the procedures, any adjustments and penalties after an audit generally will be assessed against the partnership itself, rather than against […]
Wealth Management Group Newsletter – Spring 2018
Our Wealth Management Group’s Spring Newsletter discusses how the new tax bill will actually affect you, as well as tips to protect your property and reduce financial loss in the event of a natural disaster.
Real Estate Group Newsletter – Summer 2017
ORBA’s Real Estate Group Newsletter is a quarterly publication focused on effective real estate practice management. The Summer 2017 issue includes two articles: “Exercise Caution with Joint Venture Financing” and “Is a Prospective Commercial Tenant creditworthy?”
Wealth Management Group Newsletter – Fall 2015
ORBA’s Wealth Management Group Newsletter is a quarterly publication focused on effective wealth management. The Fall 2015 issue includes two articles, “Currency Movements and Your Portfolio” and “Making the Most of Dividend Income.”
Law Firm Group Newsletter – Summer 2015
The Summer 2015 Law Firm Group Newsletter includes two articles: How to Use Leverage to Your Firm’s Advantage & Estimating Taxes for Law Firm Partners.
Law Firm Group Newsletter – Spring 2014
ORBA’s Law Firm Group Newsletter is a quarterly publication focused on effective businesses management for lawyers and law firms. The Spring 2014 issue includes two articles: Should You Change Your Business Entity? and Navigating the Retirement Maze: New Options Can Help Keep Partners Happy.
News
ORBA Appoints Adam Levine as Head of Audit
ORBA, one of Chicago’s largest public accounting firms, is proud to announce that Adam M. Levine CPA, CFP® has been appointed as Head of the firm’s Audit Group effective January 1, 2021.
ORBA Names Adam Levine and James Pellino as New Directors
CHICAGO – Ostrow Reisin Berk & Abrams, Ltd. (ORBA), one of Chicago’s largest public accounting firms, is proud to announce that Adam Levine, CPA, CFP® and James Pellino, CPA have been elected as Directors effective July 1.
