Steve Silberman is a partner in the Firm's Tax & Business Services division and a member of the Real Estate and Healthcare Practice groups. He joined Marcum in 2015 via the Firm's merger with Frost, Ruttenberg, & Rothblatt P.C., one of the largest full-service accounting firms in the Chicago region. Mr. Silberman served as vice president and secretary of FROST. He is a trusted business advisor, accountant and consultant to a variety of clients, including physician and dental practices, condominiums (residential and commercial), townhomes, homeowners' associations and cooperatives, manufacturing companies, dental laboratories, contractors and various service businesses.
Since joining FROST in 1978, he was instrumental in developing the Firm's condominium and homeowners association specialty practice, with more than 400 associations as clients currently. Mr. Silberman is a CPA and an ISA Certified Internal Quality Systems Auditor. His more than 35 years working with condominium and homeowner associations has made him a sought-after presenter for numerous organizations including the Community Associations Institute (CAI) - Illinois; CAI - Wisconsin; Association of Condominium, Townhouse and Homeowners Associations (ACTHA); BOMA/ Suburban Commercial Condominium Specific Interest Group; and Lakeside Community Development Corporation.
Mr. Silberman was also actively involved with FROST's physician practice group, QuickBooks group and Education Committee. His many years of experience, coupled with his technical expertise and vast resources both inside and outside the Firm, allow him to guide a wide range of small to mid-size clients, not only in their day-to-day operations, but also as they expand their businesses, streamline operations or plan their exit strategies.Among his accomplishments, Mr. Silberman:
- Advised a local wholesaler with sales in excess of $15 million during its product expansion, including determining the acquisition price, analyzing the tax ramifications, compiling cost projections, overseeing the negotiations and reviewing the contracts. His efforts helped the company increase revenues by 30%.
- Mediated and negotiated a succession plan that successfully transferred ownership of a small business to its employee.
- Restructured a 15-doctor medical practice on the brink of closure, enabling it to become a thriving moneymaker for its core physicians.
- Uncovered management company fraud for a homeowners association that was depleting much-needed reserves.
- Put a plan in place for a self-managed association experiencing financial difficulties that included budget consulting, implementing fund accounting, improving internal controls and helping set up a cash flow plan to fund reserve (capital) projects.
He has written or co-authored many articles and has been interviewed and quoted in the Chicago Tribune and The Chicagoland Cooperator. He has also been a guest on Common Interest Radio on WIND.
- American Institute of Certified Public Accountants (AICPA)
- Apartment Building Owners and Managers Association (ABOMA)
- Association of Condominium, Townhouse and Homeowners Association (ACTHA)
- CAI - Illinois, Board Member, Former Treasurer and Chair of the Finance committee, Current Co-Chair of the Finance Committee and member of Homeowners Forum Committee, Illinois Community Development Committee
- CAI - Wisconsin
- Illinois CPA Society
- Medical Group Management Association (MGMA)
- It's Budget Time - Did You Overlook Any Items?, co-author, ACM Community Management Newsletter, Fall 2014
- Why Your Monthly Financial Package Is So Important!, author, ACTHA News, November 2014
- It's Budget Time - Are You Budgeting for All of Your Funds?, author, Community Leader Magazine, Fall 2014, CAI-Wisconsin
- Should Your Association Have Financial Statement Prepared by a CPA Firm?, author, Tressler, LLP
- Which Federal Income Tax Return IS Right for Your Association?, author, ACTHA
- Income Taxes for Commercial Associations - Are They the Same as Commercial Rental Properties?, author, Chicagoland Buildings & Environments
- So You Think Your Association's Assets Are Safe? - ?Are You Sure?, co-author, Common Interest Magazine
- Assessment Collections: A Challenge for Associations, co-author, Common Interest Magazine
- Energy Credits - What Are They and How Do You Qualify?, author, Harris Bank
- Can You Be the Biggest Loser? Let's Figure Out How to Trim the Fat Out of Your Budget, co-author, Common Interest Magazine
- Your Finishing Your Budget - Did You Overlook Any Item?, author, Condo Lifestyles Magazine
Condominiums (Residential and Commercial)
Townhomes and Cooperatives
Bachelor of Science, Accounting
University of Illinois
2012 Olympus Service Award - Community Associations Institute (CAI) - Illinois
January 01, 2017
Partner Steven Silberman wrote about planning for excess budgeted income in the winter issue of Common Interest, the publication of the Community Associations Institute’s Illinois chapter.
It's that time of year again, and just like birthdays (but much less fun), annual budgeting is back on the calendar.
As summer comes to a close and schools reopen, the time has come for community association boards and finance committees to start working on next ....