EFTA02472920.pdf

From: jeffrey E. <jeevacation@gmail.com> Sent: Thursday, February 11, 2016 2:56 PM To: Brad Wechsler Subject: Fwd: Re: more finger pointing . now its jh =ssue, this is bullshit. Forwarded message From: Richard Joslin Date: Thu, Feb 11, 2016 a= 9:52 AM Subject: RE: Re: To: "jeffrey E." <jeevacation@gmail.com> Cc: Brad Wec=sler >, "Melanie Spinella , Joe Avantario You refer to a Jet Aviation invoice f=r which I do not generate. I do not take ownership for Jet's=manner of reporting but there is a review of the amounts presented in such invoice, eg JH reviews each month before approving for payment. =AO The FO also reviews. I will work with Jet to improve its in=oice. I sent yesterday an explanation of fuel amounts on the Decembe= invoice. As you will note, Jet invoices have date cut off and not all charges for each flight will be reported in the month =he flight took place. Accordingly, monthly ratios may have silly results.<=> I indicated earlier I was in transit =nd would provide ALL amounts as you request in your numerous emails. I can=tell you that the leasing cost on an hourly basis is $200. Jet haircuts the charter payment it receives from Apollo/ LDB by =200. There is annual charter administration fee of $2,000. Part 135 =ours were 111.4 for 2015. I am compiling the information/ clarification yo= requested. From: jeffrey E. [mailto:jeevacation@gmail.comj Sent: Thursday, February 11, 2016 9:42 AM To: Richard Joslin > Cc: Brad Wechsler Subject: Re: Re: >; Richard 1 Bronstein >; Melanie Spinella ; J=hn Castrucci >; Joe Avantario richard you are an accountant , i =nly want numbers . accurate fully detailed numbers. . =AO telling me the amount is slight ? is not a number , t=lling me the rate is 7.5 percent is not useful without the full descriptio=, . putting charter EFTA_R1_01585065 EFTA02472920 revenue in as minus costs. is not helpful, . putting fuel in at 97= an hour is just wrong. ? categorites of " other" . rakes no sense without detailed footnotes. , explaining why pay=oll taxes for a month is not 1/12 of the year as opposed to 1/10th.. why have a variance column , if there is no budget.?=C2 where are total costs per hour? you have fixed and varia=le.. why have speed? silly silly silly On Thu, Feb 11, 2016 at 9:37 AM, Richard Joslin < 1 wrote: The 42 hours include both Part 91 and=Part 135 hours. Part 135 is the charter component and that gives rise to charter revenue. From: jeffrey E. [mailto:jeevacation@gmail.comj Sent: Thursday, February 11, 2016 9:21 AM To: Brad Wechsler > Cc: Richard J Bronstein < ; Melanie Spinella John Castrucci ; Joe Avantario >; Ric=ard Joslin < Subject: Re: it says charter revenue only 312 but letter sa=s apollo hours were 42 at 18k each hour? On Tue, Feb 9, 2016 at 6:41 PM, Brad Wechsler <BWechsler@elyslIc..om <mailto:BWechsler@elyslIc.com» wrote: MEMORANDUM ATTORNEY•CLIENT PRIVLEDGE TO: =C2 Rick Bronstein =C2 =AO =C2 CC: =AO John Castrucci =AO Leon Black =C2 =AO =C2 =AO =C2 Joe Avantario =AO =C2 =AO =C2 =AO =C2 =AO Rich =oslin 2 EFTA_R1_01585066 EFTA02472921 FROM: Brad Wechsler =AO =C2 =AO =C2 =AO Jeffrey Epstein DATE: February 9, 2016 Leon, 1. Attached, please find the January 26th memo on the airplane which wa= sent to you previously. It deals with Part 91 vs. 135 and attendant costs=and income tax benefits. The office feels that with respect to income tax,=Part 135 is more favorable, but not significantly so, i.e., between 0 and $400K depending on use. 2. Also included are detailed operating costs. These were previously se=t to Jeffrey but not previously not sent to you. 3. The final note details the FET and sales tax consequences of moving =rom the current structure to a simplified structure. Were we to move to a =ery simple Part 91 only structure you could likely save $200K/year but wou=d have to own and operate the plane in your personal name (your insurance is sufficient, but there would be a =ertain lack of privacy). If you held the plane in a sole purpose LLC the a=orementioned savings would disappear. If Jeffrey wants to take a deep dive= we have much detailed material and we would also suggest he speak to Rich.' and our aviation attorney.=/u> 4. Bottom-line, a lot of work has been done and there is not a compelli=g answer, one way or another. Taking into account income tax attributes, s=les tax attributes and ease of use attributes it's almost a push, =hough I would probably marginally favor Part 135. I believe Jeffrey favors Part 91, which in my mind, is a suffici=nt reason to go that route. We should discuss. Thanks please no=e 3 EFTA_R1_01585067 EFTA02472922 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@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please no=e 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@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note =he information contained in this communication is confidential, may be =ttorney-client privileged, may constitute inside information, and is in=ended only for the use of the addressee. It is the property of JEEUnauthorized use, disclosure or copying of this communication or any p=rt thereof is strictly prohibited and may be unlawful. If you have rece=ved this communication in error, please notify us immediately by ret=rn e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication an= all copies thereof, including all attachments. copyright -all rights r=served 4 EFTA_R1_01585068 EFTA02472923