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Joel Herman, CPA

Joel Herman, CPA

Author's details

Name: Joel Herman, CPA
Date registered: June 11, 2013

Contact Information

Phone: (312) 670-7444
Fax: (312) 670-8301

Email: jherman@orba.com
Website: http://www.orba.com
Twitter: @ORBAAccounting

Biography

Joel has more than 25 years of professional experience at Ostrow Reisin Berk & Abrams, Ltd., where he has been a director since 1997. Joel serves law firms, consulting firms, medical practices, manufacturers, distributors and retailers. He also works with other entrepreneurs and closely-held companies, including real estate developers, technology companies, financial firms, and marketing and advertising firms. This wide variety of client types and industries allows him to leverage best practices from one industry and apply them to others, which is extremely valuable to his clients. Joel’s primary area of concentration is financial statement attestation and income tax compliance. In addition to accounting and auditing services, Joel performs litigation support and is involved in due diligence investigations related to mergers and acquisitions. He also performs tax planning and compliance work for business owners and individuals. Joel prides himself on establishing active, consultative roles with his clients. Joel’s approachable manner encourages clients to come to him for advice on day-to-day matters, emerging issues or active opportunities at any stage of their business or lifecycle. As a result, Joel has the pleasure of being a part of many client success stories as he has helped them grow from start-up to thriving, profitable companies. Joel’s inquisitive and consultative approach regularly finds him helping clients develop proper accounting systems and internal controls for their financial functions. He also advises on tax minimization strategies and performs cost analyses, cash flow reviews, and other specialty consulting work to help clients meet their business needs and enhance their bottom lines.

Latest posts

  1. E-Verify Helps Confirm Employment Eligibility — June 20, 2017
  2. New Overtime Rules Will Affect You – Are You Ready? — November 18, 2016
  3. Why Your Firm May Need a Business Manager — November 19, 2015
  4. It’s Not Too Early for Year-End Tax Planning — September 1, 2015
  5. Manufacturing and Distribution Group Newsletter – Winter 2015 — February 26, 2015

Author's posts listings

2017
Jun 20

E-Verify Helps Confirm Employment Eligibility

Immigration and legal residency are hot topics in today’s environment, and, as a result, closer scrutiny is being paid to employment eligibility. Federal law requires employers to verify employment status; however, dishonest workers sometimes use fake or stolen IDs to get hired. The E-Verify system helps employers comply with the law. This article explains how E-Verify works and why the requirements for using it might change in the future.

2016
Nov 18

New Overtime Rules Will Affect You – Are You Ready?

In May 2015, the Department of Labor (DOL) finalized new overtime rules that update the thresholds for classifying workers as nonexempt and highly compensated. The long awaited changes will increase pay for more than 4 million workers. This article explains changes that will go into effect starting on December 1, how they will impact manufacturers and how business can legitimately reduce overtime costs. A Sidebar highlights the stance the National Association of Manufacturers has taken on the new rules.

2015
Nov 19

Why Your Firm May Need a Business Manager

Most lawyers are legal experts, not business specialists, and many do not have the time or inclination to assume full-time business management and development duties. That is where a business manager can help. This article discusses the types of functions business managers can perform and provides tips on finding the right person given the scope of the position.

2015
Sep 01

It’s Not Too Early for Year-End Tax Planning

Manufacturing and distribution companies that expect to owe substantial taxes in 2015 can still take steps to soften the blow. But a number of tax breaks, particularly ones related to depreciation, hinge on legislation that Congress might restore before it adjourns for the holidays. This article highlights some tax-saving strategies to consider before December 31.

2015
Feb 26

Manufacturing and Distribution Group Newsletter – Winter 2015

ORBA’s Manufacturing and Distribution Group Newsletter is a quarterly publication focused on effective manufacturing and distribution management. The Winter 2015 issue includes two articles, Offering Incentives Can Mean Extra Income All Around and IRS Hot Buttons: Defending Your Business Against Tax Audits.

2014
Nov 25

Five Tips for Reducing Fraud at Your Firm

Because they foster a collegial, trusting environment, law firms can be more vulnerable to fraud than many other types of businesses. Enforcing internal controls may simply seem unnecessary in an office of professionals dedicated to the law. Unfortunately, occupational thieves take advantage of such complacency. This blog discusses five basic controls that law firms can implement to help deter fraud.

2014
Nov 12

Demystifying LTL Freight Classification

The National Motor Freight Classification® (NMFC®) system can be overwhelming. However, manufacturers that understand how carriers classify freight can find creative ways to lower their costs for less-than-truckload (LTL) shipments. This blog describes the factors that affect freight rates and offers ways to qualify for lower, less expensive freight classes.

2014
Sep 10

Law Firm Group Newsletter – Summer 2014

The Summer 2014 Law Firm Group Newsletter includes two articles: Putting a Price on Your Law Firm and Two-Track Mind: Multiple Partnership Models & Their Benefits to Firms and Lawyers Alike.

2014
Apr 24

The Virtual Office: An Idea Whose Time Has Come

Sole practitioners already have widely adopted a virtual office model for cost and logistical advantages. In addition to reducing expenses and increasing convenience, a virtual or hybrid office may enable a law firm to expand into new geographic markets and simplify service offerings.

2014
Feb 20

Manufacturing and Distribution Group Newsletter – Winter 2014

Modern Technology continues to change the way we run our business and manage our inventory, but not without a cost. Radio frequency identification (RFID) is the latest technology in inventory management. However, before investing thousands of dollars in converting to RFID tags and readers, manufacturers and distributors should consider whether bar coding — or a combination of these two options — is the optimal choice for their company. Bar codes are generally less expensive, but RFID offers a host of additional benefits. This article discusses how the two technologies work and the considerations that should be addressed in deciding which technology to adopt.

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