EFTA02558319.pdf

From: Richard Kahn Sent: Tuesday, December 5, 2017 6:14 PM To: Jeffrey E. Subject: Fwd: Income tax payments due Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>Nick Nichols Subject: =/b>RE: Income tax =ayments due Date: December 5, 2017 at 1:11:25 PM EST To: =/b>Deborah Pechet Quinan Cc: =/b>"Noam Chomsky <mailto "Richard Kahn Dear =eborah, If I send you =omething today, it would be with the major caveat that we don't =ave nearly enough information to calculate a Q4 payment with =ccuracy. And more importantly, I've suggested =everal times since August/September and as recently within the past =eek, that I recommend that we make an additional IRA distribution that =s applied 100% to tax withholding. And I emphasized =hat we need to do that before 12/31. Of course I can'= quantify the saving precisely, but it would save a 4- figure federal =nderpayment penalty. A quarterly payment =ow would only "stop the clock" going forward on the =enalty calculation; but withholdings are deemed to be prorata =hroughout the year, hence no penalty and the hoped for cash savings. EFTA_R1_01717940 EFTA02558319  We don't have =n estimate of their royalty incomes for 2017 (they were greater in 2016 =han in 2015), Noam's income from teaching in Arizona, etc, =tc. Hopefully we will =et some more information shortly and we can update the projections. I am not aware of any other significant =ources of cash to be able to make Q4 estimated payments. Noam & =aleria, if you have some =vailable cash that can be set aside to be applied as Q4 estimated =ayments so that we don't have to incur more taxable income with =n IRA distribution, it would be helpful. Let us know how much =s available, and we can calculate the ideal balance of IRA distribution =more taxable income) and other resources (without additional taxable =ncome). Do you know if the =ccounts have moved from Bainco yet? The last we knew in =eptember, they had not. If not we will want =o coordinate the tax payment/distribution with Bainco. Thanks, Nick From: Deborah Pechet Quinan Sent: Tuesday, December 5, 2017 =2:27 PM To: Nick Nichols <NickN@all-cpas.com> Cc: Noam Chomsk raleria Chomsk :=Richard Kahn ect: Income tax payments •ue Importance: High Dear Nick, Could you please send me, at your very earliest convenience, =he estimated tax vouchers and payment amounts for Noam and Valeria, for =he tax payments that are currently due? Best, Deborah Deborah Pechet Quinan, Esq. LL.M. Shareholder Chair, Trusts & Estates =roup 255 State Street, 7th Floor I Boston, MA 02109 www.riw.com I BIO NOTICE: This email with its attachments, if any, is intended =olely for permitted use by authorized recipients. If you are not an =uthorized recipient of this email, your retention, transmission, =isclosure, or use of this email is prohibited. If you received this =mail in error, please notify the sender and delete this email and its =ttachments from your devices and =ystems. 2 EFTA_R1_01717941 EFTA02558320 EFTA_R1_01717942 EFTA02558321