James S. Kim

Reduced a tax penalty by 20 percent

James S. Kim

Certifications: CPA
Education: Bachelor’s, Economics, UCLA
Industries: Manufacturing, Wholesale, Apparel, and Media & Entertainment
Services: International Tax, Audit & Accounting and Business Consulting
Languages: English & Korean

A one and one-half generation immigrant, James has positive attributes from the cultures of both Korea and the U.S. He easily relates to immigrant families and values long, lasting relationships with those he serves.

James works with both inbound and outbound international businesses, especially in the areas of manufacturing and the import and distribution of apparel. He understands tri- or multi-party transactions between businesses, foreign vendors and financial institutions and has represented companies during audits by taxing authorities.

In addition to working directly with business owners and supervising client projects, James is responsible for administrative aspects of the firm. He trains employees, oversees the firm’s quality controls and assists in developing the firm’s strategic plan.

James joined Kim & Lee in 2005 and has more than 20 years of accounting experience. Prior to that, he worked in different accounting firms including a “big four” firm, a southern California regional and his own firm that ultimately merged with Kim & Lee. He also worked for the International House of Pancakes where he gained knowledge on franchise companies.

One of three siblings, James’ family first immigrated to Guam and then to California when he was in high school. Today, the entire family lives in southern California. James currently resides in Los Angeles.

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Delivering Success: Reduced a tax penalty by 20 percent

James worked with a new client who faced a multi-year penalty for non-compliance in excess of $100,000. Issues included Report of Foreign Bank and Financial Accounts (FBAR) and the Offshore Voluntary Disclosure Program (OVDP). He represented the client before the IRS and closed the case for much less than the initial assessment.

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Memberships:

  • AICPA
  • Korean American CPA Society of Southern California

 

Community Involvement:

  • Korea International Trade Association (KITA); board member
  • Overseas Korean Traders Association of Los Angeles (OKTA-LA); board member
  • Korea Trade Promotion Agency (KOTRA); member
  • LosAngeles Downtown Lions Club

 

Hobbies & Interests:

  • Ocean sport fishing
  • Hiking local mountain trails
  • Golfing
  • Outdoor shooting

 

Ask Me About:

  • Entrepreneurship and how I opened my own CPA firm
  • Hooking and landing a more than 100 pound Bluefin Tuna