Civic Financial

SEP IRA 2024 Contributions: Key Deadlines & Maximization Strategies For business owners and self-employed individuals, a SEP IRA (Simplified Employee Pension IRA) provides a unique advantage, you have until your tax filing deadline in 2025 to make contributions for the 2024 tax year. This flexibility allows you to maximize retirement savings while lowering taxable income even after the calendar year has ended. 2024 SEP IRA Contribution Deadlines ? Standard Tax Filing Deadline: April 15, 2025 ? Extended Tax Filing Deadline: October 15, 2025 (if an extension is filed) If you own a business or are self-employed, you can still make SEP IRA contributions for 2024 until these deadlines, offering you more time to evaluate cash flow, optimize tax planning, and make the most of your retirement savings. Why Contribute to a SEP IRA? ?Tax-Deferred Growth – Your investments grow tax-free until withdrawal. ?Reduces Taxable Income – Contributions are tax-deductible, potentially lowering your tax bill. ?Higher Contribution Limits Than Other IRAs – Unlike Traditional or Roth IRAs, a SEP IRA allows for significantly larger contributions. ?Extended Contribution Window – Unlike a 401(k), you can make contributions into the following year before filing taxes. How to Maximize Your SEP IRA Contributions for 2024 1. Calculate Your Eligibility – You can contribute up to 25% of net earnings, capped at $69,000 for 2024. 2. Use the Extended Deadline to Your Advantage – If you need more time to evaluate your business’s financials, file for a tax extension to contribute up until October 15, 2025. 3. Coordinate with Your Tax Advisor – Ensure you’re maximizing your deductions while staying compliant with IRS regulations. 4. Invest for Long-Term Growth – Work with a financial professional to optimize your SEP IRA portfolio based on your risk tolerance and retirement goals. A SEP IRA is one of the most powerful retirement tools for business owners and self-employed professionals, offering both high contribution limits and tax advantages. The ability to contribute for 2024 until April (or October) of 2025 allows for greater financial flexibility and strategic tax planning. #CivicFinancial #WealthManagement #SEPIRA

Market volatility can impact your investments in many ways, including from a tax perspective. Here is how it can benefit your portfolio:

Strong teams are built on trust, collaboration, and the occasional great meal. This week the Civic team ate "family-style" at TABLE in Boston's #northend. Cheers to a memorable night!

Excited to cheer for Connor Hall as he takes on the Boston Marathon! Wishing you the best of luck from the rest of the team at Civic! ??♂??? #BostonMarathon #CivicMindset #RelentlesslyReliable #Tenacity

To our new connections–welcome! We wanted to take a moment to re-introduce ourselves and share more about Civic Financial–our mission, our clients, and our team. At Civic, we deliver a boutique financial planning experience for highly compensated professionals and high-net-worth families. By providing thoughtful guidance and best-in-class financial solutions, we help ease our clients’ burdens and bring clarity to their financial decisions. Whether you’ve been with us for years or are just getting to know us, we’re grateful to have you here. Watch this video to learn more about who we are and what drives us! #CivicMindset #RelentlesslyReliable #Tenacity #Financialplanning

Civic Team Spotlight: Isabella Harrington ?? We're excited to welcome Isabella to the Civic Team as our new Marketing Coordinator. Isabella brings to Civic a wealth of experience in marketing, events and social media. We can’t wait to see what she accomplishes at our firm! ?? #CivicMindset #RelentlesslyReliable #Tenacity #team

The Civic team is wrapping up an action-packed week, with many of our team members spending time in #newyorkcity to connect with clients in person. ???? Leadership gathered to strengthen both the firm's plan for 2025 and its overall team health. Shout out to Mitchell York for the guidance and wisdom! Private Wealth Advisor Dan Monaghan, CFP? and Financial Planning Analyst Nick Allsop represented the firm at a #bigapple Ivy League #football event. CEO Scott DeSantis had a blast taking court with our two racquet-sport sponsored athletes, Amanda Sobhy and Moustafa (Moose) Bayoumy. ??Additionally, the group enjoyed its visit to the #squash J.P. Morgan Tournament of Champions held in Grand Central Station. Thanks to John Nimick for the hospitality. Meanwhile, back in our Boston office, Financial Planning Analyst Shannon Needleman led the team through Civic's first Lunch and Learn session of 2025. We certainly made the most of the 67th week of January! ?? #team #financialplanning #wealthmanagement

Financial Times Smart Player of the Day, Jan 24: Two-time ToC finalist Amanda Sobhy kept her cool at 9-all in the fifth to defeat world No. 10 Sivasangari Subramaniam.

?? We are honored to announce that Civic has been recognized as one of Forbes' Best-In-State Wealth Management Teams for 2025. ?? This achievement is a testament to our team's dedication, relentless reliability, and passion for inspiring financial confidence among our valued clients. We love what we do! Thank you, #Forbes! #Award #Recognition #WealthManagement

Last week, the Civic team had the privilege of arranging for Amanda Sobhy to speak at Noble and Greenough School before 50 squash student athletes. The #nobles students even got time to practice with her on the courts. Sobhy, a Civic-sponsored athlete and 2028 LA Games hopeful, was a natural with the students, offering tips and encouragement, and even breaking a sweat while offering sage advice about learning and growing when faced with moments of challenge, failure and adversity. #tenacity #sponsorship #squash #team #olympics #2028lagames