Civic Financial

Fee-based financial planning at Civic Financial offers a unique opportunity to experience our tailored and differentiated approach firsthand. When clients engage us for a fee-based plan, our team conducts a comprehensive review of their financial picture, customizing it to align with their family's goals and objectives. In a follow up meeting, clients are presented with recommendations and strategies crafted specifically for their needs. Fee-based planning is a great way for someone to start a relationship with our firm! #WealthManagement #FeeBasedPlanning #CivicFinancial

Yesterday, we had the pleasure of hosting an incredible padel event at Padel Boston alongside our sponsored Padel pro Moustafa “Moose” Bayoumy. It was a fantastic opportunity to connect in a more dynamic setting, enjoying some friendly competition and great conversation. At Civic Financial, we believe strong relationships are the foundation of everything we do, and events like these remind us of the importance of connection. A big thank you to everyone who joined us. We look forward to the next match! #PadelBoston #CivicFinancial

Traditional and Roth IRA Contribution Deadlines: What You Need to Know Did you know there is still time to contribute to an IRA for tax year 2024? A traditional IRA grows tax deferred, while a Roth IRA grows tax free. Both are great for retirement savings. Here is a quick guide to key dates and limits for 2024 and 2025. Traditional and Roth IRA Contribution Deadlines ?2024 Contributions: Deadline is April 15, 2025 ?2025 Contributions: Start January 1, 2025, and deadline is April 15, 2026 If you haven’t maxed out your 2024 contributions, you still have time to contribute before Tax Day 2025 - just ensure you designate for the correct year when making your deposit. 2024 Traditional and Roth IRA Contribution Limits The maximum you can contribute for 2024 is: ?$7,000 if under 50 ?$8,000 if 50+ (catch-up contributions) Backdoor Roth IRA Conversion For high earners exceeding the Roth IRA income limits, a Backdoor Roth IRA is a way to legally contribute. Here’s the process: 1. Contribute $7,000 ($8,000 for age 50+) after-tax dollars to a Traditional IRA. 2. Convert those funds into a Roth IRA. Since the contribution was after-tax, this is a tax-free conversion. 3. Be aware of the pro rata rule and consult your advisor or tax professional.

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