EFTA02558647.pdf

From: Richard Kahn Sent: Tuesday, December 5, 2017 6:32 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>Deborah Pechet Quinan Subject: =/b>FW: Income tax =ayments due Date: December 5, 2017 at 1:27:26 PM EST To: =/b>"Richard Kahn Cc: "Noam Chomsky "Valeria Chomsky (- Dear =ichard, Further =o my previous response to Nick's email, please let me know your =houghts regarding the discussed email to Max with the demand for tax =ayments, as it appears that we do not have an accurate figure =et. In addition, Nick's suggestion that he =alculate a split for the payments between the IRA (to avoid penalties) =nd other resources (i.e. the marital trusts) seems reasonable to me but =ncurs taxable income for the IRA distribution, instead of paying the =lability 100% from the marital trusts. I think we can =etter assess his suggestion when we have some numbers to work with. I look =orward to your thoughts and am available for another call today except =etween 2:00 and 3:00 this afternoon. EFTA_R1_01718465 EFTA02558647  Deborah Deborah Pechet Quinan, Esq. LL.M. Shareholder Chair, Trusts & Estates =roup 255 State Street, 7th Floor I Boston, MA 02109 www.riw.com <http://www.riw.com/> I WO From: Nick Nichols [mailto Sent: Tuesday, December 05, 2017 =:11PM To: Deborah Pechet Quinan Cc: Noam Chomsky =aleria Chomsky <mailto ; Richard Kahn Subject: RE: Income tax payments =ue Dear Deborah, If I send you something today, it would be with the major =aveat that we don't have nearly enough information to calculate = Q4 payment with accuracy. And more importantly, I've =uggested several times since August/September and as recently within =he past week, that I recommend that we make an additional IRA =istribution that is applied 100% to tax withholding. And I =mphasized that we need to do that before 12/31. Of course I =an't quantify the saving precisely, but it would save a =- figure federal underpayment penalty. A quarterly payment now =ould only "stop the clock" going forward on the penalty =alculation; but withholdings are deemed to be prorata throughout the =ear, hence no penalty and the hoped for cash savings. We =on't have an estimate of their royalty incomes for 2017 (they =ere greater in 2016 than in 2015), Noam's income from teaching =n Arizona, etc, etc. Hopefully we will get some more information =hortly 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 =amp; Valeria, if you have some available cash that can be set =side to be applied as Q4 estimated payments so that we don't =ave to incur more taxable income with an IRA distribution, it would be =elpful. Let us know how much is available, and we can calculate =he ideal balance of IRA distribution (more taxable income) and other =esources (without additional taxable income). Do you =now if the accounts have moved from Bainco yet? The last we knew =n September, they had not. If not we will want to coordinate the =ax payment/distribution with Bainco. Thanks, Nick From: Deborah Pechet Quinan Sent: Tuesday, December 5, 2017 =2:27 PM To: Nick Nichols <MMM 2 EFTA_R1_01718466 EFTA02558648  Cc: Noam Chomsk =aleria Chomsk ;=Richard Kahn Subject: Income tax payments due 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 I www.riw.com I BIO NOTICE: =his email with its attachments, if any, is intended solely for =ermitted use by authorized recipients. If you are not an authorized =ecipient of this email, your retention, transmission, disclosure, or =se of this email is prohibited. If you received this email in error, =lease notify the sender and delete this email and its attachments from =our devices and systems. NOTICE: This email with its =ttachments, if any, is intended solely for permitted use by authorized =ecipients. If you are not an authorized recipient of this email, your =etention, transmission, disclosure, or use of this email is prohibited. =f you received this email in error, please notify the sender and delete =his email and its attachments from your devices and =ystems. 3 EFTA_R1_01718467 EFTA02558649