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Michael Kovacs, CPA

Michael Kovacs, CPA

Author's details

Name: Michael Kovacs, CPA
Date registered: February 8, 2011

Contact Information

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



Mike has served as an accountant for closely-held businesses for more than 20 years. He has been with ORBA since 1986. Mike's work focuses on providing accounting, tax and business consulting services to mid-size companies in a variety of industries, including real estate, manufacturing and financial services. Mike is also one of the firm's experts in audits of employee benefit plans.

Latest posts

  1. Tax Court Considers House Flipper’s Expense Deductions — August 19, 2015
  2. What You Need to Know About ADP/ACP Discrimination Testing — January 7, 2015
  3. What’s Coming Up from the Department of Labor — August 11, 2014
  4. I Want to Buy a New Property But Can I Assume the Seller’s Loan? — July 28, 2014
  5. Strategies to Boost 401(k) Plan Participation — March 4, 2014

Author's posts listings

Aug 19

Tax Court Considers House Flipper’s Expense Deductions

With many real estate markets on the rebound, real estate investors are resuming house-flipping strategies. Investors must keep in mind that in order to deduct expenses related to the property, the expenses must be incurred in connection with a “trade or business.” This article describes how a taxpayer in one recent case learned the hard way that a trade or business requires more than just vague intentions to sell at some point. Ohana v. Commissioner, Nos. 16014-11, 25896-11, May 8, 2014 (U.S. Tax Court)

Jan 07

What You Need to Know About ADP/ACP Discrimination Testing

Every year plan sponsors must test employee benefit plans to ensure that the contributions made by and for rank-and-file employees, also known as non-highly compensated employees (NHCEs), are reasonably proportional to contributions made for highly-compensated employees (HCEs), generally the company’s owners and managers. This blog examines what all employers should understand about these non-discrimination tests.

Aug 11

What’s Coming Up from the Department of Labor

The Department of Labor (DOL) is working on several important initiatives in 2014 covering a broad range of retirement plan issues. This blog reviews some initiatives affecting qualified retirement plans.

Jul 28

I Want to Buy a New Property But Can I Assume the Seller’s Loan?

At ORBA, we have seen a recent increase in commercial real estate transactions. With the credit market still somewhat stingy, potential buyers may want to consider assuming their sellers’ loans. Not surprisingly, this approach comes with pros and cons. This blog describes how it works.

Mar 04

Strategies to Boost 401(k) Plan Participation

According to the Department of Labor, about one-third of eligible employees do not participate in their employer’s 401(k) plan. But 401(k) plan participation benefits both employees and employers. This article looks at why participation matters and strategies to help increase participation numbers.

Nov 05

Appellate Court Rules on Lease Obligations

One of the most vexing concerns investors have when buying real estate is whether they will end up being saddled with unexpected liabilities or obligations related to the property.  When it comes to commercial lease obligations, though, there is very little a real estate investor can do without the tenant’s consent, and the resulting costs… Continue reading »

Oct 24

Real Estate Group Newsletter – Fall 2013

The Fall 2013 Real Estate Newsletter features “Buyer Beware” by Mike Kovacs and Christie Gricius. They forewarn prospective buyers of the unexpected costs that can come with purchasing investment property and strategies to avoid them.

Feb 08

Splitting Costs- CAM Charges

Most businesses are affected by leases in one way or another, either as a tenant or as a landlord. Lease documents can be long and difficult to read, but paying attention to the small print could make your wallet larger particularly related to common area maintenance charges (CAM).

Mar 16

If It’s Flushable, It May Be Deductible

A place to get away with the kids… a place to get away from the kids… a place to splash in the water… a place to go fast over the water…. HOME on the water… the boat you’ve dreamed of owning for a long, long time…