EFTA02640450

From: jeffrey E. <[email protected]> Sent: Saturday, August 5, 2017 12:02 PM To: Barry J. Cohen; Leon Black Subject: hopefully helpful After fridays discussion https://www.aopa.org/training-an.-safety/pic-archive/aircraft-ownership/business-justification-aircraft-exp.nses I suggest you focus on large issues firs=. . the discussions re personal use of plane . parties t=avel. may be relevant at the tippy tip of the margins bu= these answers should flow from the structure. On=what form will you use the deduction. ? which business. , its=structure. different buisnesses etc. =C2 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. . planes own=d by farmers salesman, bankers. are usually small=planes. meaningless to leons issue. large biz gets are=usually owned by corporations. . the facts. the=e are approx 400,000 planes in the states. out of that large n=mber only about 13, 000 total private jets. out of that=class only 2000 large jets and most owned by corporatio=s. how many people have business of leons size . =ot including his art work. You asked=, me what do we do now. as I told Brad year= ago. First and foremost is accurate numbers presented =n an organized fashion. that is 80 percent of the grunt work.= Once all the numbers are in shape , ie materials for the bui=ding of the financial architecture. . Leons goals must b= addressed and programatic . this takes hours of discussion.= . next . plans are drawn up, . modifications are made, =C2 issues of sec regulation, tax, control, succession= mechanics. all need to be planned and adjusted to meet the goals. =C2 You need to recognize that ther= are few , very few examples of the house that in leons case n=eds to be re built. most people with leons wealth have = serious family office with a huge stock portfolio. , not art. =AO and of those , few hold dormant assets ie apollo.. =ts been ten years since apollo went public. and the house need= total renovation. upgrades in tech, security, and the =C2 family has changed all very similar to architecting a ho=se after the children have grown and left. <=iv> =C2 please note The information co=tained in this communication is confidential, may be attorney-client pr=vileged, may constitute inside information, and is intended only for JEE Unauthorized use= disclosure or copying of this communication or any part thereof is str=ctly prohibited and may be unlawful. If you have received this commu=ication in error, please notify us immediately by return e-mail or by e=mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereo=, including all attachments. copyright -all rights reserved </=iv> --001a11402bfc602eda05560061a4-- conversation-id 36035 date-last-viewed 0 date-received 1501934517 flags 8590195713 gmail-label-ids 7 6 remote-id 736412 EFTA_R1_01873868 EFTA02640450