EFTA02716319

From: Thomas Turrin <-> Sent: Tuesday, May 6, 2014 8:50 PM To: jeffrey E. Cc: Richard Joslin Subject: RE: AVIONETA HOLDINGS Attachments: Structure Chart - AVIONETA.DOCX; 08_PROMISSORY NOTE, IN PRINCIPAL AMOUNT OF $26,1000,000.pdf Jeffrey, Attached is the structure chart provided to me by John Hannan. Also attached is the promissory note in which Avioneta Holdings, LLC is the borrower on the note payable due to Banc of America Leasing and Capital, LLC ($26.1m). I verified the fact that Avioneta Holdings, LLC pays the monthly payment to Banc of America Leasing. The source of funds for Avioneta are from Apollo (for payment of business use) and from Leon (for his personal use). The payments are made from the Wells Fargo account of Avioneta. Avioneta Holdings, LLC would be the reporting entity for tax purposes, which is owned by Leon and Debra. We will provide Rich J. with what is needed to roll forward the books and records for 2013. See you Thursday. Tom EFTA_R1_02152690 EFTA02716319 THOMAS TURRIN, CPA Partner Raich Ende Matter & Co. LLP 1375 Broadway New York, New York 10018 (212)944-5404 (Fax) (Cell) Email: <mailto Website: www.rem-co.com <http://www.rem-co.com> From: Jeffrey E. [mailto:[email protected] Sent: Tuesday, May 06, 2014 2:39 AM To: Thomas Turrin; Richard Joslin Subject: http://www.advocatetax.com/6950/irs-rules-on-depreciation-for-mixed-use-charter-part-91-aircraft/ tom , your statement that depreciation only begins when 135 approved does not appear accurate. please note 2 EFTA_R1_02152691 EFTA02716320 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]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved CONFIDENTIALITY STATEMENT: The information contained in this electronic communication, including any and all attachments and enclosures, may be privileged and is strictly confidential, intended solely for the use of the person(s) identified above to receive this communication. If you are not the person(s) identified above to receive this communication, you are hereby notified that you may not disclose print, copy, disseminate, or otherwise use the information contained herein. If you are an employee or agent of the person(s) identified above to receive this communication and, as such, you have been authorized to deliver this communication to such person(s), you may disclose, print, copy, disseminate, or otherwise use the information contained in this communication solely for the purpose of such delivery. Unauthorized interception and/or use of this communication are/is strictly prohibited and may be punishable by law. If you have received this communication in error, please reply and notify the sender (only) of that fact and delete the communication, including any and all attachments and enclosures, from your computer or other electronic device on which you may have received this communication. CIRCULAR 230 DISCLOSURE: To insure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication (including any and all attachments), unless expressly stated otherwise, was not intended or written to be used and cannot be used for the purpose of (i) avoiding tax-related penalties imposed by the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction(s) or tax-related matter(s) addressed herein. This communication may not be forwarded (other than to the addressee(s) identified above) without our express written consent. 3 EFTA_R1_02152692 EFTA02716321