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Areas of Expertise
So Sum Lee, CPA
PRINCIPAL — TAX
REAL ESTATE INDUSTRY LEADER
So Sum Lee is a Tax Principal at KROST. So Sum has over 25 years of experience in public accounting and has a wide range of experience in Taxation, as well as servicing high-net-worth clients. So Sum’s area of expertise includes industries such as wholesale, real estate investments, and restaurants.
So Sum has a degree in Business Economics with a minor in Accounting from the University of California, Los Angeles. She is also a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants.
- KROST, Tax Principal (January 2019 — Present)
- KROST, Tax Director (September 2005 — December 2018)
- Hsu, Yim, Leung & Koo LLP (August 1996 — September 2005)
- Bachelor of Arts in Business Economics with a Minor in Accounting, University of California, Los Angeles, 1996
- Member of American Institute of Certified Public Accountants (AICPA)
- Member of California Society of Certified Public Accountants (CalCPA)
- Member of Real Estate Roundtable Associates Council
- Chair of KROST Real Estate Industry Group
So Sum's Thought Leadership
Update #3: IRS Tax Relief on California Storm Victims
The Internal Revenue Service (IRS) has once again extended the tax relief to California storm victims. The
Update #2: IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available
The Internal Revenue Service (IRS) has issued another announcement as of CA-2023-02. The following modifications apply to
California Conformity Update: IRS Extends Filing Deadline for California Storm Victims: Tax Relief Available
The Governor’s office announced on January 13, 2023, that California will conform to the filing extensions granted
2022 Year-End Tax Planning Strategies for Businesses
In the last few months of the year, it is important to consider year-end tax planning opportunities
Window to Make Portability Election is Extended to Five Years
Since lifetime gift exemption has drastically increased by the Tax Cuts and Jobs Act (TCJA), which went
Fiscal Year 2023 Revenue Proposal: How Does the Biden Administration’s Proposal Impact the Real Estate Industry?
Recently, the Department of Treasury released the General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals.
More on the State Tax Deduction Workaround (AB 150)
Over the weekend, we received clarification regarding a couple of the many unanswered questions regarding the implementation
Did You Miss Your State Tax Deduction?
If you are a shareholder of an S Corporation, partner/member of a partnership/LLC, you might be able
Tax-Saving and Advisory Services for the Real Estate Industry
The real estate market can be volatile, full of risks and challenges. Real estate professionals should enlist
Going Green for the Green: Federal Tax Incentives for Energy Efficient Building
This is one of the articles in the new KROST Quarterly Real Estate Issue, titled “Going Green for