Re: [External] Re: Plane — Unsealed Email

J

To

Barry J. Cohen

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

After fridays discussion

you

leons

tax,

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

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

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

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

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 jeev=cation@gmail.com mailto:jeevacation@gmail.com anailto:j<=br>eevacation@gmail.com <mailto:jeevacation@gmail.com», and destroy this communication and all copies thereof,

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="mailto:jeevacation@gmail.com" target="_blank">jeevacation@gmai..com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved

J

To

Barry J. Cohen

barry, perfect example of what i have been trying to explain. =C2 without context the question makes little sense. =x if all is income is ordinary. selling things at a los= does nothing . however if he is getting mo=e capital gains next year. you miight generate losses and carry them=forward or back. if we think the tax rates will change we mig=t create fictiioous gains. and use the loss but have a higher =asis for next year. if the loss in on the trust side ,=C2 it is a benefit to the future tax of the children. =A0sorry to be so long winded but at least i am consistant :)

The image shows a message sent on Sat, Aug 5, 2017 at 10:39 AM by Barry J. Cohen.

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

B

These are all things we are trying to think about. Our new internal g=y is great, but he doesn't bring solutions with him because, like you =ay, no one is quite like Leon. Since he just joined us, we're starting=certain planning 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

J

same idea to make sure boat sale , plane sale art sale . all pr=duce the best after tax result.

B

Plane sale is minor loss.

J

not necessarily . talk monday.

B

We never took accelerated depreciation due to lack of passive income. Unuse= depreciation has been carried forward. Basis is therefore a little high.

J

yes , I would ask that you go through and see exactly which years you=tookk what and it produce a real szable benefit. . =AO form a new entity for the contract signing. have tha= entity have the right to assign.

B

We =re having Elysium buy it. As long as it is freely assignable, does it have=to be a new entity?

J

To

Barry J. Cohen

new entity