EFTA02381800.pdf

From: Barry J. Cohen Sent: Saturday, August 5, 2017 9:28 PM To: Jeffrey E. Subject: hopefully helpful These are all things we are trying to think about. Our new internal guy is=great, but he doesn't bring solutions with him because, like you say, no o=e is quite like Leon. Since he just joined us, we're starting certain plan=ing work later than we would like. EY is good but they are better at answering questions than providing proact=ve planning advice. And I am finding them a little slow. Your derivatives financing idea is a good one. Who would be a good person t= talk to about it? Justin at JPM? Sent from my iPhone On Aug 5, 2017, at 10:49 AM, jeffrey E. <jeevacation@gmail.com<mailtoieeva=ation@gmail.com» wrote: barry, perfect example of what i have been trying to explain. without c=ntext the question makes little sense. ex if all is income is ordinam selling things at a loss does nothing . however if he is gettin= more capital gains next year. you miight generate losses and carry them =orward or back. if we think the tax rates will change we might create f=ctiioous gains. and use the loss but have a higher basis for next year. = if the loss in on the trust side , it is a benefit to the future tax of=the children. sorry to be so long winded but at least i am consistant=:) On Sat, Aug 5, 2017 at 10:39 AM, Barry 1. Cohen .1 -rt» wrote: One problem is that we want Leon to tell us what art he is interested in se=ling. I don't think he can do that. We should tell him whether 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. <jeevacation@gmail.com<mailto:jeeva=ation@gmail.com><mailto:jeevacation@gmail.com<mailto:jeevacation@gmail.c om=» wrote: there has been little if any proper planning for tax this year and next. = this needs to be done after the program and materials are put in form On Sat, Aug 5, 2017 at 9:13 AM, Barry J. Cohen > wrote: I hear you. There is no blue print. I think our numbers are finally thorou=h and accurate. We haven't discussed it much, but technology and security=have been a huge focus for me since I joined Elysium. Making slow but stea=y progress. Sent from my iPhone On Aug 5, 2017, at 8:02 AM, jeffrey E. <jeevacation@gmail.com<mailtojeevacrtion@gmail.com><mailto:jeevacation@gmail.com<mailto:jeevacation@gmail.c EFTA_R1_01397456 EFTA02381800 om>=<mailto:jeevacation@gmail.com<mailto:jeevacation@gmail.com><mailto:jeevaca=ion@gmail.com<mailto:jeevaca tion@gmail.com»» wrote: After fridays discussion https://www.aopa.org/training-and-safety/pic-archive/aircraft-ownership/bus=ness-justification-aircraft-expenses I suggest you focus on large issues first. . the discussions re personal=use of plane . parties travel. may be relevant at the tippy tip of the =argins but these answers should flow from the structure. On what for= will you use the deduction. ? which business. , its structure. differ=nt buisnesses etc. Barry , what you will find is that there is very few answers to be found=on point as people in leons position rarely make cases to tax court. ex=eption being estate issues. . planes owned by farmers salesman, bank=rs. are usually small planes. meaningless to leons issue. large bi= gets are usually owned by corporations. . the facts. there are app=ox 400,000 planes in the states. out of that large number only about 13,=000 total private jets. out of that class only 2000 large jets 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 I told Brad years ago. Fir=t and foremost is accurate numbers presented in an organized fashion. =that is 80 percent of the grunt work. Once all the numbers are in shape = ie materials for the building of the financial architecture. . Leons =goals must be addressed and programatic . this takes hours of discussi.n. . next . plans are drawn up, . modifications are made, issues of=sec regulation, tax, control, succession. mechanics. all need to be plan=ed and adjusted to meet the goals. You need to recognize that there are few , very few examples of the h=use that in leons case needs to be re built. most people with leons we=lth have a serious family office with a huge stock portfolio. , not art.= and of those , few hold dormant assets ie apollo.. Its been ten yea=s since apollo went public. and the house needs total renovation. up=rades in tech, security, and the family has changed all very similar t= architecting a house after the children 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 jeevacation@gmail.com<mailtoieevacation@gmai=.com><mailto:jeevacation@gmail.com<mailto:jeevacation@gmail.c om»<mailto:j=evacation@gmail.com<mailto:jeevacation@gmail.com><mailto:jeevacation@gmail=com<mailto:jeevaca tion@gmail.com>», 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 return e-mail or by e-mail to jeevacation@gmail.com<mailtoleevacation@gmai=.com><mailto:jeevacation@gmail.com<mailto:jeevacation@gmail.c 2 EFTA_R1_01397457 EFTA02381801 om», 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 return e-mail or by e-mail to jeevacation@gmail.com<mailto:jeevacation@gmai=.com>, 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 <?xml version=.0" encoding=TF-8"?> <IDOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/Propertylist-1.0.dtd"> <plist version=.0"> alict> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1501968493</integer> <key>flags</key> <integer>8590195717</integer> <key>remote-id</key> <string>736524</string> </dict> </plist> 3 EFTA_R1_01397458 EFTA02381802