Nov. 21, 2024 10:30 AM PT
Newport Beach-based Wood Investments Companies, Inc., a commercial real estate investment company specializing in retail, has announced via press release that it has appointed Michael A. Rich, CPA, as the company’s new tax director. For nearly a decade, Rich has served as the president and CEO of Rich & Company in Irvine, a full-service tax, accounting and business consulting firm.
“We are thrilled to welcome Michael Rich to the Wood Investments team as our new tax director,” said Patrick Wood, president and CEO of Wood Investments Companies. “Michael’s extensive experience and proven track record in tax management and consulting make him an invaluable addition to our company. His expertise will be instrumental in ensuring our continued growth and success as we manage the complexities of real estate acquisitions, development and our large property portfolio. We look forward to the positive impact he will bring to our organization.”
As tax director for Wood Investments, Rich is responsible for managing and overseeing all tax-related activities for the company’s real estate properties. This includes ensuring compliance with local, state and federal tax regulations, preparing and filing tax returns, and managing tax audits. Rich will work closely with other departments to ensure accurate and timely tax reporting and to minimize tax liabilities.
Rich established his tax practice in 2015 with the intent of serving small business owners, given the multitude of tax and accounting-related issues they encounter. He provided consultation and planning around the tax implications of proper entity selection, retirement plan setup and contributions, fixed asset acquisition, R&D tax credits and forward-looking tax projections.
Successfully helping his clients navigate their complex and constantly evolving tax landscape, Rich found his way into several privately held real estate partnerships. He was able to help organize the operations and strategically plan for taxes with great effect. It was from working with those partnerships that he found his love for commercial and multi-family real estate.
Prior to establishing his own firm, Rich was a senior tax accountant with Smith, Linden & Basso (which has since merged with Windes) for nearly four years. Rich graduated from Chapman University in Orange, with a Bachelor of Business Administration in finance and marketing. Rich is a Certified Public Accountant.