EFTA02640591.pdf

From: jeffrey E. <[email protected]> Sent: Saturday, August 5, 2017 2:50 PM To: Barry J. Cohen Subject: Re: [External] Re: hopefully helpful barry, perfect example of what i have been trying to=explain. without context the question makes little=sense. ex if all is income is ordinary. =AO selling things at a loss does nothing .=C2 however if he is getting more capital gains next year. y=u miight generate losses and carry them forward or back. =if we think the tax rates will change we might create fictiioous gai=s. and use the loss but have a higher basis for next year. =AO if the loss in on the trust side , it is a benefit to the f=ture tax of the children. sorry to be so long wind=d but at least i am consistant :) On Sat, Aug 5, 2017 at 10:39 AM, Barry J. =ohen .1 1<mailto > wrote: One problem is that we want Leon to tell us what art he is in=erested in selling. I don't think he can do that. We should tell him w=ether we want him to sell either his gains or his losses and why. Sent from my iPhone On Aug 5, 2017, at 10:30 AM, jeffrey E. <[email protected] <mailto:jeevacation@g=ail.com> <mailto:[email protected] <mailto:jeevacation=gmail.com> » wrote: there has been little if any proper planning for tax this year and ne=t. this needs to be done after the program and materials are =ut in form On Sat, Aug 5, 2017 at 9:13 AM, Barry J. Cohen .: <mailto <make <mailto » wrote: I hear you. There is no blue print. I think our numbers are finally t=orough and accurate. We haven't discussed it much, but technolog= and security have been a huge focus for me since I joined Elysium. Making=slow but steady progress. Sent from my iPhone On Aug 5, 2017, at 8:02 AM, jeffrey E. <[email protected] <mailto:jeevacation@gm=il.com> <mailto:[email protected] <mailto:jeevacation@=mail.com»<mailto:[email protected] <mailto:[email protected]> <mailto:[email protected]>» wro=e: After fridays discussion https://www.aopa.org/training-and-safety/pic-archive/=ircraft-ownership/business-justification-aircraft- expenses <https://www.aopa.org/training-and-safety/pic-archive/aircraft-ow=ership/business-justification-aircraft- expenses> I suggest you focus on large issues first. . the discussi=ns re personal use of plane . parties travel. may be relevant =t the tippy tip of the margins but these answers should=C2 flow from the structure. On what form will you use the =eduction. ? which business. , its structure. diffe=ent buisnesses etc. Barry , what you will find is that there is very few answers t= be found on point as people in leons position rarely make cases to tax co=rt. exception being estate issues. . =lanes owned by farmers salesman, bankers. are EFTA_R1_01874139 EFTA02640591 usua=ly small planes. meaningless to leons issue. =AO large biz gets are usually owned by corporations. . =C2 the facts. there are approx 400,000 planes in the =tates. out of that large number only about 13, 000 total priva=e jets. out of that class only 2000 large jets =AO and most owned by corporations. how many people have=business of leons size . not including his art work. You asked , me what do we do now. as=l told Brad years ago. First and foremost is accur=te numbers presented in an organized fashion. that is 8= percent of the grunt work. Once all the numbers are in shape = ie materials for the building of the financial architecture.=C2 . Leons goals must be addressed and programatic . =C2 this takes hours of discussion. . next . plans are=drawn up, . modifications are made, issues of sec=regulation, tax, control, succession. mechanics. all need to b= planned and adjusted to meet the goals. You need to recognize that there are few , very few exa=ples of the house that in leons case needs to be re built. =AO most people with leons wealth have a serious family office=C2 with a huge stock portfolio. , not art. and of those , =ew hold dormant assets ie apollo. . Its been ten years=C2 since apollo went public. and the house needs total reno=ation. upgrades in tech, security, and the family has c=anged all very similar to architecting a house after the chil=ren have grown and left. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> <mailto:j<=br>[email protected] <mailto:[email protected]»<[email protected] <mailto:jeevacation@gm=il.com> <mailto:[email protected] <mailto:[email protected]> », and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This email and any files transmitted with it are confidential and intended =olely for the person or entity to whom they are addressed and may contain =onfidential and/or privileged material. Any review, retransmission, dissem=nation or other use of, or taking of any action in reliance upon this info=mation by persons or entities other than the intended recipient is prohibi=ed. If you have received this email in error please contact the sender and=delete the material from any computer. Apollo Global Management, LLC please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by 2 EFTA_R1_01874140 EFTA02640592  return e-mail or by e-mail to [email protected] <mailto:[email protected]> <mailto:j<=br>[email protected] <mailto:[email protected]», and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This email and any files transmitted with it are confidential and intended =olely for the person or entity to whom they are addressed and may contain =onfidential and/or privileged material. Any review, retransmission, dissem=nation or other use of, or taking of any action in reliance upon this info=mation by persons or entities other than the intended recipient is prohibi=ed. If you have received this email in error please contact the sender and=delete the material from any computer. Apollo Global Management, LLC =AO please note The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="[email protected]" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved --001a114fbed29e9433055602b90f-- conversation-id 36178 date-last-viewed 0 date-received 1501944587 flags 8590195713 gmail-label-ids 7 6 remote-id 736442 3 EFTA_R1_01874141 EFTA02640593