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My name is Michael Lim, and I am a CPA who started his own practice in 2003. I started my career at KPMG, LLP in the Los Angeles office. After KPMG, I went to work at YUM! Brands (parent company of Taco Bell, Pizza Hut, and KFC), where I got involved in M&A work. I worked on several really interesting long term projects that involved franchising, real estate, contract law, and valuations on the buy and sell sides. Once my time at YUM! Brands ended, I was offered a chance to start my own tax and consulting practice. After 6 years of self-employment, I think I may be getting the hang of things. The name of my practice is called Semaphore Tax Strategies, and is based in Irvine, CA. Most of my client base is self-employed, or have small businesses, since there is much more opportunity for adding value with these clients.

Professional Licenses
Certified Public Accountant (CPA) California License #79338

16 Years of Work Experience


University of California (Santa Barbara) - Bachelor of Administration (BA) in Economics, Graduated with Honors

Question answered by Michael

For annual expenses such as liability insurance can it be divided by 12 and then expensed monthly?... read on

We just changed our QuickBooks from 2008 to 2010. When we go to reconcile our bank account, the beginning balance comes up... read on

What happens if someone writes you a bad check and you deposit it into your account and then close the account before the... read on

If I withdraw money from my 401k, may I avoid taxation if I use it for a special needs trust for my son?... read on

I want to cash in my stock to purchase a house. Do I have to pay tax on it?... read on

I am single and have owned and lived in my home for the last 10 years. I purchased it for $180,000 and am... read on

I just sold my nail salon. Basically, I sold the equipment. How do I figure out how much taxes I owe... read on

As an LLC owner, am I required to take a distribution instead of taking a salary as compensation?... read on

Can you give gift cards in lieu of wages and not include it on a 1099?... read on

If you pay for a plane ticket to do non-profit charity work in 2009 but the work will not be completed until the... read on

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