Tax Forms, New SEI APP and Contribution Limits for 2025

Nate Crosby |
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Tax forms to be distributed in February

Tax forms for your investment accounts should be available by the middle of February for both SEI and Schwab. SEI lists February 14th as the date 1099 tax forms will be sent to account holders. Those forms will also be available online through your SEI or Charles Schwab app. If you have any questions, please contact our office at 419.496.0770.

When 2024 taxes are filed don’t forget to take advantage of our Holistiplan tax planning software. This service is available to all clients at no added cost, and it can be extremely helpful in uncovering ways to grow your assets efficiently, while preserving benefits for retirement.

Aggregation and Encrypted Vault Available on SEI-Connect

In 2024, SEI introduced their latest app, SEI Connect. If you are presently not using it to view your SEI investment accounts, you can download it from the App Store, Google Play, or wherever you get apps for your mobile device(s). SEI Connect has two new features that our investors love: 

  1. The first is the ability to aggregate outside accounts such as bank accounts or investment accounts with other custodians. Many of our clients have investment accounts with both Charles Schwab and SEI. SEI Connect allows you to see all your accounts at once.
  2. Additionally, SEI Connect has a vault for safely storing documents. Some clients store Power of Attorney (POA) documentation or healthcare directives so that information is readily accessible in an emergency situation. 

If you need help downloading and / or accessing the app, please don't hesitate to contact our office. 

SEI Connect Logo

2025 Contribution Limits

Traditional IRA and Roth IRA contribution limits will stay the same in 2025 at $7,000 for investors under age 50 and $8,000 for investors age 50 or older. In 2025, 401k deferrals are increasing to $23,500 and 401k participants over age 50 can contribute an additional $7,500. If you are a sole proprietor or single member LLC, it may be beneficial to see if a solo 401k makes sense for you. SIMPLE IRA contributions are increasing to $16,500 with additional catchups of $3,500 for investors over age 50.  

2025 Contribution Limits Chart

 

 

 

Disclaimer: Crosby Advisory Group, LLC is a registered investment advisor. This newsletter is for informational purposes and does not reflect direct investment or tax advice. Investing involves risk including the potential loss of principal. Not all investments are suitable for all people. Crosby Advisory Group, LLC has ownership interest in NMD Insurance Agency and CAG Marketing.