EFTA02551993.pdf

From: Richard Kahn Sent: Tuesday, December 5, 2017 8:32 PM To: Jeffrey E. Subject: Fwd: Income tax payments due Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 tel fax cell Begin forwarded message: From: =/b>Deborah Pechet Quinan Subject: qb>RE: Income tax =ayments due Date: December 5, 2017 at 3:34:48 PM EST To: =/b>Richard Kahn < Cc: "Noam Chomsky )" =lt; <mailto >>, "Valeria Chomsky )" < > Richard, Thank you for your emails below. When the =rust made the tax payments for 2015 I sent Max the estimated tax =ouchers and he remitted them with payment directly from the trust to =he taxing authorities. Since Nick does not have all of the =nformation he needs to calculate the 2017 tax and prepare the vouchers, =ow should this be handled? Please let me know what to ask Nick =or in this regard. Can you =lease clarify what you mean below by "the =eimbursement". In addition, please confirm that by "extra tax =or last year" you mean that I should be asking for a =istribution to Noam of 100% of his and Valeria's 2016 tax =iability that was paid from Noam's IRA. EFTA_R1_01708529 EFTA02551993  I =ppreciate the clarifications. Thanks, Deborah Deborah Pechet Quinan, Esq. LL.M. Shareholder Chair, Trusts & Estates =roup 255 Sta loor I Boston, MA 021O9 Direct: I Cell Assistant - =a ne Mahoney Office Fax: e-mail: I www.riw.com <http://www.riw.com/> I BIO From: Richard Kahn [mailto Sent: Tuesday, December 05, 2017 =:58 PM To: Deborah Pechet Quinan Subject: Re: Income tax payments =ue Tell max that he can pay to treasuries with Noam's =ritten approval Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York NY 10022 fa ce On Dec 5 2017 at 1:49 =M, Richard Kahn •rl l <mailto > wrote: Deborah ask for 150k for this year and =he reimbursement plus extra tax for last year that nick should give =ou Richard Kahn HBRK =ssociates Inc. 575 Lexington Avenue 4th =loor 2 EFTA_R1_01708530 EFTA02551994  New York, NY 10022 tel fax cell On Dec 5, =017, at 1:27 PM, Deborah Pechet Quinan c <mailtcr wrote: Dear Richard, Further to my previous =esponse to Nick's email, please let me know your thoughts =egarding the discussed email to Max with the demand for tax payments, =s it appears that we do not have an accurate figure yet. =nbsp; In =ddition, Nick's suggestion that he calculate a split for the =ayments between the IRA (to avoid penalties) and other resources (i.e. =he marital trusts) seems reasonable to me but incurs taxable income for =he IRA distribution, instead of paying the liability 100% from the =arital trusts. I think we can better assess his suggestion =hen we have some numbers to work with. I look forward to your =houghts and am available for another call today except between 2:00 and =:00 this afternoon. Deborah Deborah =echet Quinan, Esq. LL.M. Shareholder Chair, =rusts & Estates Group 255 State Street =th Floor I Boston, MA 02109 Direct I Cell: Assistant - =a ne Mahoney Office: I Fax: e-mail <mailto: www.riw.com <http://www.riw.com/> I BIO <image001.gif> From: Nick Nichols [mailto Sent: Tuesday, December 05, 2017 =:11 PM To: Deborah Pechet Quinan Cc: Noam Chomsky =aleria Chomsky (M <mailto > ); Richard Kahn Subject: RE: Income tax payments =ue Dear Deborah, 3 EFTA_R1_01708531 EFTA02551995  If I send you something today, it would be with the major =aveat that we don't have nearly enough information to calculate = Q4 payment with accuracy. And more importantly, I've =uggested several times since August/September and as recently within =he past week, that I recommend that we make an additional IRA =istribution that is applied 100% to tax withholding. And I =mphasized that we need to do that before 12/31. Of course I =an't quantify the saving precisely, but it would save a =-figure federal underpayment penalty. A quarterly payment now =ould only "stop the clock" going forward on the penalty =alculation; but withholdings are deemed to be prorata throughout the =ear, hence no penalty and the hoped for cash savings. We =on't have an estimate of their royalty incomes for 2017 (they =ere greater in 2016 than in 2015), Noam's income from teaching =n Arizona, etc, etc. Hopefully we will get some more information =horny and we can update the projections. I am not aware of any other significant =ources of cash to be able to make Q4 estimated payments. Noam =amp; Valeria, if you have some available cash that can be set =side to be applied as Q4 estimated payments so that we don't =ave to incur more taxable income with an IRA distribution, it would be =elpful. Let us know how much is available, and we can calculate =he ideal balance of IRA distribution (more taxable income) and other =esources (without additional taxable income). Do you =now if the accounts have moved from Bainco yet? The last we knew =n September, they had not. If not we will want to coordinate the =ax payment/distribution with Bainco. Thanks, Nick From: Deborah Pechet Quinan (mailto Sent: Tuesday, December 5, 2017 =2:27 PM To: Nick Nichols diageminum, Cc: Noam Chomsky ( >; =aleria Chomsky <mailt • • • orn> ) < ;=Richard Kahn <mailto >) Subject: Income tax payments due Importance: High Dear Nick, Could you please send me, at your very earliest convenience, =he estimated tax vouchers and payment amounts for Noam and Valeria, for =he tax payments that are currently due? Best, Deborah Deborah =echet Quinan, Esq. LL.M. Shareholder Chair, =rusts & Estates Group 255 St = Floor I Boston MA 02109 Direct I Cell: Assistant - Jayne Mahoney: Office: I Fax: 4 EFTA_R1_01708532 EFTA02551996  e-mail: I www.riw.com I BIO <image001.gif> NOTICE: This email with its =ttachments, if any, is intended solely for permitted use by authorized =ecipients. If you are not an authorized recipient of this email, your =etention, transmission, disclosure, or use of this email is prohibited. =f you received this email in error, please notify the sender and delete =his email and its attachments from your devices and systems. NOTICE: This email with its attachments, if any, is intended =olely for permitted use by authorized recipients. If you are not an =uthorized recipient of this email, your retention, transmission, =isclosure, or use of this email is prohibited. If you received this =mail in error, please notify the sender and delete this email and its =ttachments from your devices and systems. <=iv style="margin: 0in 0in 0.0001pt; font-size: llpt; font-family: =alibri, sans-serif;" class=""> NOTICE: This email with its =ttachments, if any, is intended solely for permitted use by authorized =ecipients. If you are not an authorized recipient of this email, your =etention, transmission, disclosure, or use of this email is prohibited. =f you received this email in error, please notify the sender and delete =his email and its attachments from your devices and =ystems. 5 EFTA_R1_01708533 EFTA02551997