Canandaiga Financial Group University

A Connection between Chocolate and Taxes 

Two economists and a cognitive psychologist at the University of Oregon recently conducted a study that found some people really don’t mind paying taxes. The study participants were given $100 each and told that they had to pay a portion of the money as a tax to a local food bank. A machine studied which of their brain regions were tapped as they did this.

Spring Cleaning May Bring Tax Savings 

Spring cleaning may help you find that some of your one-time treasures have turned into trash—which could mean treasure not only for those who are less fortunate but for you in potential tax deductions. Use these guidelines to assess that potential.

What to Know About the Roth 401(k)

A traditional 401(k) plan lowers your taxable income as you save for your retirement. The Roth 401(k), which took effect on January 1, 2006, combines the future tax benefits of a Roth IRA with the features of your employer’s 401(k) plan. 

An Easier Way to Fulfill Your Fiduciary Duties

If you are a key manager or human relations executive, you are already wearing many hats. One of them might be acting as the fiduciary of your company retirement plan.

Plan for Your Business...and Your Retirement

As an owner or executive of a successful small business, you are constantly engaged in the day-to-day tasks necessary to drive revenue. As your business grows, so do your responsibilities and the demands to keep up with maintaining a larger company.

Do You Really Need That Morning Coffee?

According to the Washington Post, the coffee drinkers among us would save $55,341 (and that includes interest) over 30 years if they cut out their daily $3 latte habit. Think about how nice that amount would look in your retirement account right now.

Questions to Ask When Purchasing LTCI

What kinds of care does the policy cover?
Ideally, it should let you receive home health care as well as skilled, intermediate, and custodial nursing home care. Happily, most people only need home-based care, so they can remain in an environment where they feel comfortable.

Alternatives to LTC Insurance

Long-term care is not an easy subject to discuss. Nobody wants to admit they’re getting older or that catastrophe could happen to their family.

What Are Wash Sales?

To keep investors from taking advantage of the benefits of tax selling, the Internal Revenue Service created the wash sale rule.

What Is Tax Selling?

Tax selling is selling the underperforming stocks or options in your portfolio at a loss to offset any capital gains—or profits on the portfolio—you have made during the year.

Updating Beneficiary Info

Whether you decide to leave your estate to family, friends, a charitable organization, or even the beloved furry friend that greets you at the door every evening, updating your beneficiary information on a regular basis is a necessary—and often overlooked—detail.

Socially Responsible

Your investments ideally should not only help you pursue your financial goals, but they should also match your values.

Self-Directed Investing

Whether you’ve already made some trades or are thinking of joining the ranks of online investors, you may wish to consider these things. 

Law of Averages

Just who is your average investor? We all hear about this person each time we turn on the television, tune in the radio, or read a publication and discover someone offering financial advice to the masses. 

Flexible Spending

Investing in a flexible spending account (FSA), a cafeteria plan, or a 125 plan at work reduces your pretax income and stretches your health care dollars. 

Financial Records

Financial records really fall into two categories—tax-related and non-tax related. If your paperwork was tax-related—used in calculating your tax return—you need to hold on to it for as long as you hold on to your tax records. 

Cost Basis

Cost basis is simply a fancy term used to describe what you originally paid for a specific security, including commissions and other expenses. It is used to determine any capital gains or capital losses for tax purposes. 

Saving for College? Section 529 Plans Can Help

Learn the ins and outs of starting a college fund—for as little as $25 a month.

Active vs. Passive Investing

There are really only two ways fund managers can manage your money: active management and passive management. 

Consider Factoring

Smart businesses use factoring like a line of credit to manage financial bumps without going into debt.

Diversification Explained

If 17,000 Enron employees had resisted such a heavy, unbalanced investment in company stock, their losses would have been much less.

Falling Interest Rates

What lower interest rates mean to you and your portfolio. 

Financial Fundamentals

No matter what the market is doing, focus your mental energies on the basics that you can actually control—your financial fundamentals.

Financially Savvy Kids

Kids learn everything they know about money from their parents. So, it’s within your power to raise financially savvy kids.

Health Plans for Small Business Owners

If you’re a small business owner, you’re in a tough bind.

Identity Theft

How to protect yourself against identity theft.

Insuring a Healthy Retirement

Most Americans’ finances put them somewhere in the middle between Medicaid and paying for their care.

Small Business Retirement Plans

Small businesses are often at a disadvantage when trying to hire key talent. Oftentimes, they can’t compete with splashy benefits and perks that come with corner offices. But many small business owners immediately diminish their chances by failing to offer even the most basic of employee benefits—a retirement plan. There are many options available.

Should You Tap Your Retirement Savings?

When you’re faced with a serious emergency, a major expense, or funding a business venture, your nest egg can look tempting to crack. 


We understand that money is a difficult subject to discuss and that the choices you have to make about it can be overwhelming. That’s why we take it as a point of honor that you trust Canandaigua Financial Group to help you manage it effectively.

While we offer a multitude of financial services, we prefer not to think that we work to enhance the bottom line of a portfolio. Rather, we work to enhance people’s lives and help them pursue their dreams and goals. Realizing that each client’s situation is different forces us to examine the strengths and weaknesses of each financial plan. This evaluation often takes into account the Financial Needs Pyramid.


Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser–broker/dealer. Fixed insurance products and services offered by Canandaigua Financial Group are separate and unrelated to Commonwealth.