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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

I was the beneficiary on certificates of deposit in the amount of $49,000. What is my tax liability and what form do... read on

I withdrew from a IRA but the 10% penalty is waived because I am on disability. Am I still liable for paying... read on

Can I transfer the money in my traditional IRA to the traditional IRA of my spouse?... read on

If you marry someone with back taxes due, will you be help liable for the taxes?... read on

My fiance has been legally disabled for two years and was given an estimated 6 months or less to live, should we get... read on

How do I set up a family trust?... read on

Do I need to have a special finance license to offer financing to my customers who are purchasing products from my business?... read on

I just received a $40,000 check from a family member. I want to avoid getting taxed on it. What are my options?... read on

How much are you allowed to receive as a gift without having to claim it on your income tax form?... read on

What is the maximum gift that can be made In 2010 without having to pay taxes for giving the gift?... read on

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