April 2025

YOUR PLANS ARE BUILT FOR THIS

The sweeping tariffs presented at Donald Trump’s ‘Liberation Day’ ceremony on April 2^nd have rattled the global economy. The stock market has responded with a pullback.

While the cause of this volatility is unique, the market response is not – and has played out many times in the past. As of Friday’s close, the U.S. stock market experienced its 7th double digit decline start to the year in the past 100 years (S&P 500 down -13.7%). Historically, the other six instances saw strong recoveries, often with double-digit returns from that point onward to the end of the year. While we can't predict the future, history suggests that these downturns can be short-lived, and patience is critical.

Fear is an expected response during uncertain times. For those in or nearing retirement, anxiety can present itself. While market dips are never enjoyable, your financial plans and portfolios are built for times like these. As you all know, your portfolio is a byproduct of your financial plan and we will never recommend you take on more risk than your planning can withstand. To complement the high quality stocks we own within our portfolios, we have been advocates of holding uncorrelated asset classes. This has proven beneficial as we see positive year-to-date numbers in our private mortgage, private debt, and real estate strategies. While we do not know what the coming days will look like, we do know that this period will pass and the markets will eventually form new highs.

Some experienced investors are looking at this time as an opportunity buy into the stock market at a discount. Past dips such as these have created great opportunities to invest in high quality companies at below market prices. While timing the bottom during periods such as these is very difficult, we agree there is an opportunity here for long term investors.

As the tariff story continues to play out the correct response going forward is patience. Financial overreactions during these times often are regretted. We have designed financial plans and intentional portfolios for a reason. This volatility will pass.

If you, your family, or friends have any concerns or questions about the economy and the impact to your long term planning please do not hesitate to reach out. We are readily available to connect and be a sounding board as needed.

Sincerely,

The Ivory Planning Group Team

KEY DATES & DEADLINES

FOR EVERYONE:

FOR BUSINESSES:

April 30th - Personal Tax Filing Deadline

To prevent late filing penalties and interest accruing, personal taxes need to be filed on time. We will not be able to guarantee your return's completion before the due date unless all documentation has been submitted to us at least 10 days prior to the filing deadline. We will be reaching out to all our clients when tax season commences, to walk you through the filing process. Please hold on to any personal tax documents you have to send us until we request them at the beginning of March.

June 16th - Self Employed Personal Tax & GST Filing Deadline

If you are self employed, both you and your spouse's deadline for filing personal taxes is June 15th, but as it lands on a weekend, will be pushed to June 16th. If you have a GST account, your GST filing is due the same day. The same 10-day rule as above will apply to documents being submitted before the filing deadline.

*** Corporate Year End Deadlines ***

As most of you are aware; corporate tax returns are due 6 months after the company's year-end date, and amounts owing on corporate tax returns will begin accruing interest 3 months after the year end date if they are not paid (2 months for companies that do not qualify for the Small Business Deduction). We cannot guarantee on-time filing for any returns that have submitted their complete year end documents less than 45 days prior to the company's filing due date. Please keep this timeline in mind when submitting required information and responding to queries.

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Disclaimer

We have included in this company update general information and commentary on financial planning, accounting, tax and wealth management topics that we think may be of interest to you. Although we do our best to provide accurate information, we cannot guarantee that what you read will be applicable to your personal situation. This update is NOT to be considered or used as financial advice, and any implementation of investment, accounting, or financial planning strategies should be discussed with your advisory team first.

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