One of Indiana’s Top Private Wealth Advisors, Terry DuPont, Reveals Little Known Tax Trick for Charitable Givers

December 06, 2019 - /PressAdvantage/ - Roann, IN., December 6, 2019 - Many retirees are forced to take Required Minimum Distributions (RMDs) from their traditional IRA or from their 401(k) plan. The amounts taken are taxed at ordinary income tax rates. Anyone that makes charitable contributions to qualified organizations could reduce their taxes by making those contributions directly from their IRA, rather than from their RMDs.

Terry DuPont says, “There is already legislation in place that can help just about anyone who is forced to take RMDs, yet don't need the money. We recommend to many of our clients who make regular charitable donations, including their weekly offering to their church, to make those donations directly to the institution from their IRA.”

Why should they do that, Terry asks. He says, “For those seniors who are not itemizing, this makes their donation indirectly deductible, since the direct RMD contribution is not taxable under current law. Each individual taxpayer is allowed to contribute up to $100,000 annually, $200,000 on a joint tax return, if paid directly from their IRA to a qualified 501(3)(c) charitable organization, without the distribution being subject to taxation."

This means that seniors who make regular charitable donations could save on taxes by making those donations from their IRA directly to the qualified 501(3)(c) charity, instead of withdrawing the money into a taxable account first.

About Terry DuPont, CRPS, CWPP

Terry DuPont is founder and CEO of DuPont Wealth Management, a Registered Investment Advisor and Legal Fiduciary firm. He feels it is his moral and professional responsibility to provide leadership and guidance in helping people cut through all the misleading, conflicting information and confusion that’s out there so they can make wise decisions leading to a life of success, meaning & significance with an emphasis on wealth preservation and protective growth. Terry says, “At the end of the day, I don’t care what you do… I do care that you have all the best available & appropriate choices to design, control and achieve your own bright & sunny future.”

Mr. DuPont is a member of the National Association of Insurance and Financial Advisors and the Elite Resource Team, as well as a Lead Advisor for the CPA Plus Network and Managing Director of the Advisor Plus Network, where he is one of only a few Advisors in the country that mentors and provides leadership to other Advisors and CPAs across the nation. He consistently fields calls from both camps for counsel & support with their practices, Wealth Management Oversight, Tax Mitigation, Wealth Preservation and Tax-Free Income Strategies, just to name a few. Terry has a passion for helping others succeed.

Terry is a Chartered Retirement Plans Specialist, Certified Wealth Preservation Planner and Certified Philanthropic Developer. He is a much sought-after speaker, author, founder of Blue Ocean Consulting, an advanced strategic planning firm, and DreamCatchers Initiative, a non-profit personal & business leadership & development curriculum, utilizing new world cultural teachings and breakthrough thinking.

Terry E. DuPont, CRPS, CWPP also co-authored a book called “Retire Abundantly,” which offers business owners, executives and professionals, wisdom, advice and principles on how to reduce income taxes and estate taxes to create a greater lifestyle and legacy. The book was released in early 2019.


For more information about DuPont Wealth Management, contact the company here:

DuPont Wealth Management
523 S Buffalo St
Warsaw, IN 46580

ReleaseID: 60032981

Latest News

On streets of Tehran, relief for now at no wider conflict

Jan 21, 2020

TEHRAN, Iran — Iranian newspapers proclaimed the country's attack on U.S. forces in Iraq to be "a dark night for Americans," and Washington's "first admission of failure in history." On the bustling streets of Tehran, however, there was relief Thursday that neither side appeared primed for war. “War is not something like the ‘Call of Duty’ game," said Dara Shojaei, a 23-year-old architecture student. “It's not a game you can play to win. There's no winner.” But with the relief came some mixed feelings about how far Iran should go to avenge the killing of Revolutionary Guard Gen. Qassem Soleiman,...

Stocks rise as China confirms trade deal signing next week

Jan 21, 2020

NEW YORK — U.S stocks climbed in morning trading on Thursday as investors cheered confirmation from China that its top trade official will head to Washington next week to sign a preliminary trade deal. The “Phase 1” accord is the opening step on a possible path toward a broader agreement between the nations. President Donald Trump has said he will travel to Beijing after the initial signing to start the second stage of talks. Every major index is on track for a record as Wall Street distances itself from a bout of anxiety over the last week because of tensions...

Innovative fashion designers lead the way on sustainability

Jan 21, 2020

LONDON — Innovative fashion designers are turning to such things as horseradish and nettles to make sustainable clothing and accessories to the delight of a growing number of buyers. While more consumers are paying closer attention to how the production of goods impacts the environment, old habits die hard. A buy-and-toss mentality persists despite a boost from celebrities helping to drive the upcycle and vintage movements. Actress Maggie Q, who created an activewear line from recycled fabrics, is among activists who see plenty of room for improvement. She says she feels "sick about fast fashion.'' "You hear people say, 'Well,...

Space Force will start small but let Trump claim a big win

Jan 21, 2020

WASHINGTON — The Trump administration is celebrating the launch of Space Force, the first new military service in more than 70 years. In signing the 2020 National Defense Authorization Act that includes Space Force, Trump on Friday can claim a victory for one of his top national security priorities just two days after being impeached by the House. It is part of a $1.4 trillion government spending package — including the Pentagon's budget — that provides a steady stream of financing for Trump's U.S.-Mexico border fence and reverses unpopular and unworkable automatic spending cuts to defense and domestic programs. Space...

House passes $1.4T government spending bill amid impeachment

Jan 21, 2020

WASHINGTON — The Democratic-controlled House voted Tuesday to pass a $1.4 trillion government spending package, handing President Donald Trump a victory on his U.S.-Mexico border fence while giving Democrats spending increases across a swath of domestic programs. The hard-fought legislation also funds a record Pentagon budget and is serving as a must-pass legislative locomotive to tow an unusually large haul of unrelated provisions into law, including an expensive repeal of Obama-era taxes on high-cost health plans, help for retired coal miners, and an increase from 18 to 21 in the nationwide legal age to buy tobacco products. The two-bill package,...


Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]