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.
Professional Experience
- KROST, Tax Principal (January 2019 — Present)
- KROST, Tax Director (September 2005 — December 2018)
- Hsu, Yim, Leung & Koo LLP (August 1996 — September 2005)
Education
- Bachelor of Arts in Business Economics with a Minor in Accounting, University of California, Los Angeles, 1996
Professional Affiliations
- 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
March 29, 2023The 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
February 13, 2023The 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
January 18, 2023The 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
December 12, 2022In 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
July 29, 2022Since 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?
May 19, 2022Recently, 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)
December 22, 2021Over the weekend, we received clarification regarding a couple of the many unanswered questions regarding the implementation

Did You Miss Your State Tax Deduction?
December 16, 2021If 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
November 30, 2021The 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
May 11, 2021This is one of the articles in the new KROST Quarterly Real Estate Issue, titled “Going Green for