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Doug Thorburn's Wealth Creation Strategies

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Important note: Information in these articles were deemed accurate by the author when written. The state of the art or law may have changed since the publication date. You must seek your own counsel to determine whether the law or its interpretation has changed, as well as the appropriate application to you and your situation of the information and ideas contained in these articles.


Issue #61
Fall-Winter 2016

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• Charitable donors, “bunching” and DAFs
• Avoid Draco-like penalties for late entities/1099s
• When the statute of limitations exceeds three years
• Plan for rental property fix-ups: save big tax $s
• IRS threatens Bitcoin/cryptocurrency users
• New rules for the higher education tuition credit
• Corporate tax rates should be zero
• A personal note


Issue #60
Fall 2016

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• Why Low Income earners need low taxation on high income earners
• How California might become Puerto Rico
• Challenges to Entrepreneurship


Issue #59
Summer 2016

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• IRA Charitable Transfers Dramatically Reduce Taxes
• The Good, the Bad and the Ugly of Other Tax Law Changes
• Health Savings Accounts: Better and More Versatile Than Ever


Issue #58
Summer-Fall 2015

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• How to Save on Energy Costs
• Tax Disincentives to Work Go Hyperbolic
• Tax Disincentives that Discourage Doing the "Right" Thing
• Deferred Longevity Annuities Inside IRAs
• New Tax Return Deadlines
• Penalties for Failure to Issue Forms 1099 Way Outpace Infation


Issue #57
Spring-Summer 2015

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• Yin: Death & Taxes for Parents & Heirs
     > What to sell, what not to sell
     > How to structure IRAs before death
     > What heirs need to do right away
• Yang: Wealth Creation & Preservation for Young Adults
• Financial History Repeats; Pension Promises Will Prove Unpayable
• How Much is One's "Fair Share"?


Issue #56
Winter 2015

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• IRS complicates our lives, but may save taxes
• $250K exclusion now limited for those whose homes were ever rentals
• Supreme Court to rule on King v. Burwell, determining the fate of the rule of law
• "Stupid" voters and a replacement plan
• Government lies because it's good for us

*Warning: Doug rants below*


Issue #55
Fall 2014

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• Ensuring Charitable Deductions
• Business Auto Tax Deductions
• Medical Renaissance via Health Care Act
• Big Special Credit for CA Taxpayers
• Bitcoin Taxation — What a Mess
• Online Gambling Can Have Awful Results
• Who Should File FBAR (Foreign) Reports
• Penalty Relief for FBARs and Keoghs
• New IRS Phone Scams
• K-1’s for Investments Inside IRAs
• Timely Quotes


Issue #54
Spring-Summer 2014

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• Simplified Recording Keeping
• "Income Inequality"
• Roth 401ks vs. Roth IRAs
• The Bankers Are At It Again!
• Avoid Indirect IRA Rollovers
• Tax Return ID Theft Hits Attorney General Holder


Issue #53
Winter 2014

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• Smoothing Income with Roth Conversions can be Profitable and Easy
• Why Roth IRAs can be a Goldmine
• When Should Low-Income Workers Contribute to Traditional IRAs?
• Why Withdraw from Roth IRAs Last?
• Stable Tax Rate? Do a Roth Conversion!


Issue #52
Fall 2013

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• New Stealth Tax Rates on HENRY's
• The "Affordable" Health Care Act: Unaffordable New Taxes
• Doug's Rant on Intrusive Government
• Marriage Penalty Update
• Penalties for the Uninsured
• Other Thoughts on the Role of Government


Issue #51
Winter-Spring 2013

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• Tax Season Appointment Changes
• Inaccurate Extension Estimates
• DOMA & Taxes: Upsides & Downsides
• Tax Return Identity Theft
• Interest Rates Increases Will Affect Asset Values
• Strict Compliance vs. Substantial Compliance
• New Home Office Deduction Method
• Roth IRAs as a Tax Shelter — Redeaux
• The Downsides of Borrowing from Your 401k
• Room Rentals - Report Them or Lose Your Home?


Issue #50
Fall 2012

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•  A libertarian perspective on the presidential candidates
•  Exorbitant marginal tax rates
•  Wealthy Californians may want to leave
•  Is the capital gains tax rate really 15%?
•  Average tax rates by income level


Issue #49
Summer 2012

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Featured Articles

•  Reporting foreign financial assets late may subject millions to draconian penalties
•  Other bad penalties
•  Can you deduct dog food?
•  Should you refinance? Which is better—a 30- or 15-year loan?
•  What a low down payment really costs


Issue #48
Spring 2012

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Featured Articles

• Annuities 101
• IRA, Roth IRA or 401-K?
• IRS Audit Letters
• Roth Conversion Confusion
• Roth IRA Conversion Spending
• Roth Conversions for Deceased
• Bank Screw-ups and Contributions/Conversions
• Retirement Fund Investing


Issue #47
Winter 2012

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Featured Articles

• Housing Crash: still a bubble, but (maybe) some can buy
• “Use” tax: CA gets tougher, but more realistic
• Spring Cleaning: How long should records be kept?
• Draconian penalties and foreign income & assets
• Broker elections for stocks & mutual fund sales


Issue #46
Fall 2011

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Featured Articles

•  Why higher taxes on the “wealthy” reduce wealth for all
•  Increase the odds of surviving a tax audit with good record-keeping
•  Computer-generated single-issue audits become more common
•  Mail and e-mail scammers and spammers
•  Client survey results and who do we think like?


Issue #45
Summer 2011

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Featured Articles

•  Earthquake Insurance: Time to buy?
•  Dear Doug: Should I buy gold with IRA funds?
•  Medicare premium surcharge: Another reason for Roth conversions
•  Dear Doug: Confused over Roth conversions vs. Roth contributions
•  Dear Doug: What if I need converted funds?


Issue #44
Spring-Summer 2011

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Featured Articles

The Wealth of Individuals Part 8:
•  "Income Averaging" is back via Roth conversions
Those with even a modest pension and IRA are often subject to exorbitant tax rates due to the way Social Security benefits are added to income. Roth conversions can greatly reduce the overall lifetime tax bite.
•  Social Security, a flawed annuity, is what we have: use it wisely
Only 5% delay the start of Social Security past age 66 when, mathematically, at least 50% should do so. Are you among that half?


Issue #43
Winter 2011

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Featured Articles

•  Direct donations from IRAs can save many $s
•  What is a libertarian: part 3, on compromise
•  CA gets to vote on raising taxes: think first
•  Audit and tax-collection stories
•  Yet more myths of Roth conversions
•  Incentivizing medical consumers: my story


Issue #42
Fall 2010

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Featured Articles

•  The Party’s Over—It’s Time to Accept It
•  A Libertarian View of Wealth, Debt and the Limits of Government
•  Is an LLC Right For You?
•  Take Your Capital Gains?
•  A Vote Against Unproductive Debt


Issue #41
Summer 2010

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Featured Articles:

Special “rant” edition

•  Doug tells his story
•  Just what kind of “-ism” are we suffering with?
•  The philosophy of a free market thinker
•  The arrogance of some government officials
•  Try to plan? Good luck!


Issue #40
Spring-Summer 2010

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Featured Articles:

• Roth IRAs as a tax shelter
• The unmatched flexibility & other advantages of Roth conversions
• Clients who should have called, but didn't
• Bankers & brokers I’d like to hurt
• 110% tax rates hit home
• Making Work Pay credit and kids
• Dick and Jane do finances


Issue #39
Winter 2010

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Featured Articles

•  Bubbles and Swan Dives
•  New Workers’ Credit can Result in Underwithholding
•  Wealth of Individuals, Part 6: Nothing is Forever
•  Auto Donations: Kars 4 Kids
•  More of Others’ Thoughts


Issue #38
Fall 2009

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Featured Articles

•  The only way to buy a timeshare
•  Wealth part 5: when is 2% a fabulous return?
•  CA puts the screw to savers and entrepreneurs
•  My favorite blogs and Internet sites
•  The economy, and history repeats itself


Issue #37
Summer 2009

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Featured Articles:

• Tax savings isn’t always worth the costs
• Other new tax laws, including some serious warnings
• CA voters get schizophrenic on out-of-control spending
• Problems and opportunities with refinancing
• Thoughts on the economic mess


Issue #36
Spring 2009

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Featured Articles:

• Assessing your tolerance to risk
• The alchemy of mutual fund profits
• Inherited assets can be mined for losses
• Contribution histories for Roth IRAs
• FoRGeD errors


Issue #35
Winter 2009

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Featured Articles:

The Wealth of Individuals - Part 3
• Wealth grows in spurts
• Many, including Social Security recipients, should consider Roth conversions
• Preventing future economic meltdowns


Issue #34
Fall 2008

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Featured Articles:

...Wealth and Crisis...
The Wealth of Individuals - Part 2
• How is wealth created?
• Socialism + crony capitalism = economic meltdown
• Dear Barack
• Dear John


Issue #33
Summer-Fall 2008

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Featured Articles:

The Medical Conundrum
• The importance of flexibilty
• Regulation is the problem; freedom is the cure
• Ranking the U.S. 37th in the world is political propoganda


Issue #32
Summer 2008

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Featured Articles:

The Wealth of Individuals - Part 1
• The importance of stability
• Save early and save often
• Real estate hasn’t yet bottomed


Issue #31
Winter 2007-2008

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Featured Articles:

• Alcoholics get away with murder. How?
• Are Health Savings Accounts better than IRAs?
• Elder Abuse and other financial thuggery
• Are reverse mortgages right for you?


Issue #30
Fall 07

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Featured Articles

Updates on contributions to retirement plans and health savings accounts
• Real estate succumbs to perfect storm
• Simplified recordkeeping simplified
• Real tax brackets for low income earners


Issue #29
Summer 2007

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Featured Articles:

• Pins in the real estate bubble
• Lose a home, pay more tax
• Real tax brackets for Social Security recipients
• Prevent tax tragedy— call us!


Issue #28
Spring 2007

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Featured Articles:

• Who are you?
• Another good reason to be early
• What tax bracket are you in?


Issue #27
Winter 2006-07

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Featured Articles:

• High-income earner Roth strategy
• Retiree-IRA-charity strategy
• Low-income IRA strategy
• How to take title to real estate
• Lower tax rates increase tax collections


Issue #26
Summer-Fall 2006

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Featured Aticles:

• Say no! to deductions for underwear
• Pop! goes the real estate bubble
• Avoiding social security tax


Issue #25
Spring-Summer 2006

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Featured Articles:

• Prop. 82 will fail in its objectives and exacerbate
• California’s financial problems
• Towards a better understanding of Roth IRAs
• It’s deductible and saves zero tax. Huh?


Issue #24
Spring 2006

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Featured Articles:

• Tax complification
• Inherited IRAs and compound growth
• Tax and financial myths and half truths


Issue #23
Winter 2005

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Featured Articles:

• A worldwide mania
• The bubble becomes obvious
• Pros and cons of land investments
• Private vs. government oil
• Year-end planning opportunities


Issue #22
Fall 2005

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Featured Articles:

• Real estate on the precipice
• How the new Bankruptcy law could affect all of us
• The Roth 401(k) and you
• Congressman notices the AMT
• Tax Myth of the Month: IRA confusion
• Misleading financial advertising


Issue #21
Summer 2005

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Featured Articles:

• A bubble about to burst?
• The right tax isn’t always the best decision
• Plunges in income require advance planning
• The importance of curiosity


Issue #20
Spring 2005

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Featured Articles:

• Health Savings Accounts and You
• Income changes—up or down—require advance planning
• ‘04 and ‘05 maximum retirement plan contributions


Issue #19
Winter 2004-05

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Featured Articles:

• Sales tax deduction revived
• Liability for sales tax on Internet purchases
• Telecommunications checklist addendum


Issue #18
Fall 2004

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Featured Articles

• Principled voting
• A libertarian interventionist mulls over the election
• Are California real estate prices at a peak?


Issue #17
Spring 2004

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Featured Articles:

• Simplify your recordkeeping
• A cure for the high cost of medical care
• California government needs tough love
• Understanding the Alternative Minimum Tax


Issue #16
Winter 2003

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Featured Articles:

• Should you pre-pay April’s property tax?
• Year-end donations
• When capital gains and IRA withdrawals can be profitable


Issue #15
Fall 2003

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Featured Articles:

• Marriage penalties - down, but not out
• Tax benefits of children - a challenge in divorce
• California’s mess and the recall
• Make 25% on your IRA


Issue #14
Summer 2003

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Featured Articles:

• New tax rates on everything
• More great Roth IRA ideas
• How to make the most of our services


Issue #13
Spring 2003

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Featured Articles:

• Additional depreciation for some
• Covert tax brackets: false advertising
• Letting inflation do the work of Congress
• Letters to Doug: does collective social mood determine events?


Issue #12
Winter 2003

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• How to deduct cat food
• Tax season, extensions, IRAs and 1099s
• Should I Sell My Rental Property?
• 529 Plans


Issue #11
Fall-Winter 2002

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• Education for everyone
• How to hedge in stocks and Real Estate
• When should you "income average?"
• The REAL story of Thanksgiving


Issue #10
Summer-Fall 2002

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• Home office deductions
• Gifts or incentives?
• Donate or sell your old car?


Issue #9
Summer 2002

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• Retirement planning for everyone
• What you never knew about Roth IRA's
• Do a 401-k, Roth IRA or pay down debt?


Issue #8
Spring 2002

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• The Challenges of Breaking Even on Withholding Tax
• Upcoming IRS audit topics
• A Reduction in Income Requires Tax Planning Too
• Why paying tax now can be cheaper than paying tax later


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