Subject: Re: Tax Analysis - Attorney Communication
From: "Mesires, George R." <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: "Klinefeldt, Nicholas A." <[email-masked]>, "Levinson, Kenneth S." <[email-masked]>, "MacPhail, Michael R." <[email-masked]>, "Hunter Biden" <[email-masked]>
Date: Wed, 13 Apr 2016 14:25:27 +0000

Of course.

George R. Mesires
Partner
[email-masked]<mailto:[email-masked]>
Direct:  +1 312 356 5101<tel:+1%20312%20356%205101>
Mobile:  +1 312 972 4151<tel:+1%20312%20972%204151>
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FAEGRE BAKER DANIELS LLP
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Sent from my iPhone

On Apr 13, 2016, at 9:22 AM, Eric Schwerin <[email-masked]<mailto:[email-masked]>> wrote:

If you don’t mind, I think we can answer all the questions Ken raised without Hunter and since the estimates are due on Monday I know Hunter would like it if we could talk without him at 10:30am.  Is that OK?

Eric D. Schwerin
Rosemont Seneca Advisors, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]<x-msg://59/[email-masked]>
P Consider the environment before printing this email.

On Apr 13, 2016, at 10:00 AM, Klinefeldt, Nicholas A. <[email-masked]<mailto:[email-masked]>> wrote:

I would suggest that Hunter be on the call if at all possible.  Otherwise, I would suggest we reschedule for a time he can participate.

Nick

From: Eric Schwerin [mailto:[email-masked]]
Sent: Wednesday, April 13, 2016 8:52 AM
To: Levinson, Kenneth S.
Cc: MacPhail, Michael R.; Mesires, George R.; Hunter Biden; Klinefeldt, Nicholas A.
Subject: Re: Tax Analysis - Attorney Communication

Hunter suggested in the interest of time that you and I just go ahead this AM and then if we need to loop him in later in the day we can do that.  That work?    If so, I’ll call in at 10:30am.  Thanks for the flexibility everyone!

Eric D. Schwerin
Rosemont Seneca Advisors, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]<x-msg://59/[email-masked]>
P Consider the environment before printing this email.

On Apr 13, 2016, at 8:21 AM, Levinson, Kenneth S. <[email-masked]<mailto:[email-masked]>> wrote:

Eric, I can do the 10:30 EDT call.

Hunter, since my colleagues asked, will, you be able to make either one (10:30 EDT or, if necessary, 11:30 EDT today)?

I understand that George is on a plane during both such times, so won’t be available.

Mike could do the later time (11:30 EDT) but may have a conflict, for at least part of the 10:30 EDT time slot.

I’ve left a voice message for Nick this morning to see about his availability.

We’ll make something work, but I understand that Eric needs some notice of he is to change his late morning call around…

Best regards.

Ken

From: Eric Schwerin [mailto:[email-masked]]
Sent: Wednesday, April 13, 2016 7:09 AM
To: Levinson, Kenneth S.
Cc: MacPhail, Michael R.; Mesires, George R.; Hunter Biden; Klinefeldt, Nicholas A.
Subject: Re: Tax Analysis - Attorney Communication

Yes, I'll make either work but 10:30am EDT would be preferred.   Just let me know.   Thanks.

Eric D. Schwerin
[email-masked]<mailto:[email-masked]>

Sent from my iPhone

On Apr 13, 2016, at 8:04 AM, Levinson, Kenneth S. <[email-masked]<mailto:[email-masked]>> wrote:
Eric, All

Just so I’m clear, Eric is proposing a revised call for today at 10:30 Eastern (9:30 Central)?

I am good then.

Please confirm when ready.

Thanks.

Ken

From: MacPhail, Michael R.
Sent: Wednesday, April 13, 2016 6:30 AM
To: Eric Schwerin
Cc: Mesires, George R.; Levinson, Kenneth S.; Hunter Biden; Klinefeldt, Nicholas A.
Subject: Re: Tax Analysis - Attorney Communication

I have another call at 1030est, but go ahead if that time works for anyone else. Mike

Sent from my iPhone

On Apr 13, 2016, at 4:31 AM, Eric Schwerin <[email-masked]<mailto:[email-masked]>> wrote:
Apologies for the confusion on this.  Those three times I listed were times I am NOT available for a call today. Although if 11:30am EDT works best for all of you I may be able to move my 11:30am call.   Does 10:30am work as an alternative?   Sorry again for the confusing email.

Eric D. Schwerin
[email-masked]<mailto:[email-masked]>

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On Apr 12, 2016, at 11:20 PM, MacPhail, Michael R. <[email-masked]<mailto:[email-masked]>> wrote:
11:30 EDT works for me.  I’ll circulate an invitation.

From: Mesires, George R.
Sent: Tuesday, April 12, 2016 9:19 PM
To: Levinson, Kenneth S.
Cc: Eric Schwerin; Hunter Biden; MacPhail, Michael R.; Klinefeldt, Nicholas A.
Subject: Re: Tax Analysis - Attorney Communication

I am out at those times so please proceed without me. Even if Mike or nick can't join then, I think Ken/Eric, and ideally Hunter, should connect.  George.
George R. Mesires
Partner
[email-masked]<mailto:[email-masked]>
Direct:  +1 312 356 5101<tel:+1%20312%20356%205101>
Mobile:  +1 312 972 4151<tel:+1%20312%20972%204151>
FaegreBD.com<http://www.faegrebd.com/>   Download vCard<http://www.faegrebd.com/vcard/george.mesires.vcf>
FAEGRE BAKER DANIELS LLP
311 S. Wacker Drive<x-apple-data-detectors://1/1>
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Chicago, IL 60606, USA<x-apple-data-detectors://1/1>

Sent from my iPhone

On Apr 12, 2016, at 10:16 PM, Levinson, Kenneth S. <[email-masked]<mailto:[email-masked]>> wrote:
Eric, All

From my perspective, the 10 and 11:30 EDT time slots work for me tomorrow (Wednesday).  I'm good with either of those, so when a critical mass is reached, please let us know and we'll have the call with whomever is available.

Thanks, and best regards.

Ken

On Apr 12, 2016, at 9:44 PM, Eric Schwerin <[email-masked]<mailto:[email-masked]>> wrote:
Not sure of Hunter's availability tomorrow for this call but other than a call at 10, 11:30 and 2:30 EDT tomorrow I am free.  Each of those calls should take no more than 30 minutes.

Are there any times in there that work for everyone else?

I can answer pretty much all of the questions in the email.

Eric D. Schwerin
[email-masked]<mailto:[email-masked]>

Sent from my iPhone

On Apr 12, 2016, at 7:09 PM, Mesires, George R. <[email-masked]<mailto:[email-masked]>> wrote:
Eric and Hunter:

Please see Ken’s comments/questions attached. Please let us know when you are available for a call tomorrow to discuss this.

Thanks,

George

From: Eric Schwerin [mailto:[email-masked]]
Sent: Monday, April 11, 2016 3:50 PM
To: Hunter Biden
Cc: Mesires, George R.
Subject: Tax Analysis - Attorney Communication

Hunter-

See below for analysis of Burisma payments through RSB for 2015.

For the first 10 months of 2015, total pre-tax Burisma payments through RSB = $606,666

RSB Agreed to Hold Back $245,498 of the above amount to cover taxes (approx. 38%) which left you with $361,168 in “post-tax” dollars to draw down.

For the first 10 months of 2015, you drew down approximately $413,000 from RSB.  Therefore you drew down $51,835 more than you should have.

If RSB counts the first 10 months of Burisma payments as income to you, they should send you the $245,498 - $51,835 or $193,663 which could be put towards your tax liabilities for 2015.

So, on $606,666 in income you’ll have $193,663 to go towards taxes.

Note that for November and December of 2015, the full $83,333 for each month was sent to Owasco, PC via RSB and you withheld the appropriate taxes yourself.  It is only the first 10 months of 2015 that need to be taken care of.

The only other point to keep in mind is that while Burisma paid you $83,333 a month for the first 10 months of 2015, for the first 8 months, a portion of that ($27,778 a month) went to Alex as his Board Finders Fee.  RSB has taken that amount as an expense and we need to figure out a way to capture that expense so that you are only paying taxes on $55,555 a month in income through the end of August 2015 instead of the full $83,333.  I am going to assume the accountants can take care of that.

Let me know if you have questions.

Best,

Eric

Eric D. Schwerin
Rosemont Seneca Advisors, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]<x-msg://59/[email-masked]>
P Consider the environment before printing this email.

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