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ORBA Ranks Among 2023 Largest Accounting Firms by Crain’s Chicago Business
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.
Take Action Now to Reduce Your 2023 Income Tax Bill and Your Taxable Estate
A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing—but still high—interest rates and significant changes to the rules regarding retirement planning. While much uncertainty remains, the good news is that you still have time to implement year-end tax planning strategies that may reduce your income tax bill for the year. Here are some steps to consider as 2023 comes to a close.
ORBA Welcomes Five Associates to its Audit Group
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to welcome five associates to its fast-growing Audit Group.
SECURE Act 2.0: New Law Makes Saving for Retirement Easier
Legislation enacted at the end of 2022 included the long-awaited SECURE 2.0 Act of 2022 (SECURE 2.0), which expands on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Many of the changes made by SECURE 2.0 make it easier to save for retirement in a tax-advantaged manner. Here are some of […]
ORBA Welcomes New Chief Financial Officer, Jennifer Kueker, CPA
ORBA, one of Chicago’s largest public accounting firms, is pleased to announce that Jennifer Kueker, CPA, has joined the firm as its new Chief Financial Officer.
ORBA Receives 2023 Top Workplaces Honor From the Chicago Tribune
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, has been awarded a 2023 Top Workplaces honor by the Chicago Tribune. The award is based solely on employee feedback gathered through a third-party survey that is administered by employee engagement technology partner, Energage, LLC.
Are Your Operating Reserves Enough?
Operating reserves — generally, assets without donor restrictions that you can tap into easily — frequently are referred to as “rainy day funds.” However, stable reserves are critical for far more pressing reasons than the metaphorical rainy day. Solid operating reserves demonstrate responsible financial stewardship to your stakeholders. Reserves also increase the odds that your […]
IRS Offers a Withdrawal Option to Businesses That Claimed Employee Retention Tax Credits
Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit — and the potential consequences of an invalid claim. In response, the IRS has rolled out a new process that certain employers can use to withdraw their claims.
Manufacturing Across State Lines: What Manufacturers Need to Know About Multistate Income Taxes
If your business operates across state lines, it is important to understand state income tax obligations. Following the U.S. Supreme Court’s 2018 decision in South Dakota v. Wayfair, Inc., manufacturers have focused on sales tax liability. However, the recent explosion of remote work, together with revised guidance from the Multistate Tax Commission (MTC), may raise […]
Law Firms Face Potential Red Flags as Uncertainties Continue
While the U.S. economy is showing signs of recovery, or at least a “soft landing,” the outlook for the legal market remains mixed in 2023. That is according to the “2023 Report on the State of Legal Market” from the Center on Ethics and the Legal Profession at Georgetown University Law Center and the Thomson […]