Canandaigua Financial Group

Title	Description
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 new Roth 401(k), taking effect on January 1, 2006, combines the future tax benefits of a Roth IRA with the features of your employers 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 them.
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 the following:
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 lure key talent to hire them. 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.