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Mitchell Baldridge
Stupid TaxEpisodes
Mitchell Baldridge
Stupid Tax
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It's time to look at more deals, this time from a listener in Houston who works in the concrete/aggregate industry and is considering purchasing a ready mix concrete plant. The owner of the plant is in his mid-70s and also owns a concrete contr
Mitchell Baldridge, the world's most famous accountant, and entrepreneur-turned-farmer Scott Hambrick are back! In today's episode, they respond to a listener email asking for opinions on their business idea: a "microgym" in which customers pay
In the previous episode of Mitchell's Mailbag, Mitchell and Scott set aside one email to dedicate an entire episode to -- this is that email! Listener Tim W. (T-dub for short) shares his new SEO marketing business he has rolled out, and some re
Mitchell Baldridge, CPA and Scott Hambrick reach into the Stupid Tax inbox and look at three questions submitted by listeners. One young business owner started a handyman business in the fall of 2023 and started off with a bang, making $14k in
Many business owners struggle with the idea of raising prices. Even in the current environment of high inflation and rapidly increasing costs for just about everything, many people struggle to raise prices. Sometimes it's in fear of losing good
Mitchell and Scott discuss a common problem that successful business owners encounter in their first coupe years of operation -- an income tax trap caused by rapid growth. Here's the scenario: our young business owner Connor leaves his low payi
Bad businesses are a Ponzi scheme, says Mitchell, in which owners hang on for dear life until the next check clears, only to immediately be in the hole again when the next project -- and the costs associated with it -- comes in. In fact, most b
Hang around a group of small business owners -- folks who have been in the business for a long time -- and you'll find that nearly every one of them has had someone steal from them or commit fraud at one time or another. Small businesses are pr
Mitchell and Scott answer questions submitted by listeners, including: do I need a lawyer, how much do you need to know about industry to buy a business, should you ever go into debt to buy a business, and more! Ask Mitchell and Scott a quest
Starting and growing a business is hard, but are some harder than others? Absolutely! Scott and Mitchell discuss the factors that make a business difficult to succeed in, and what things they like to look for in businesses with a high chance of
Mitchell and Scott pick up today's episode in the middle of a conversation about whether "the kids are gonna be alright." As Gen Z enters the workforce en masse, they do so with very different expectations than the millenials before them. Zoome
Mitchell Baldridge and Scott Hambrick answer a listener question asking about switching from cash accounting to accrual accounting in his farming buinsess, and a potential tax bill that would arise from that switch. Listener Austin also asks ab
It's popular nowadays to throw around the term "grifter" when it comes to getting people to check out your product or service. After all, it seems like it takes either tons of frequent exposure or outlandish behavior to get attention on the int
Somewhere in the early part of the 20th century, retailer Marshall Field famously declared "the customer is always right," underlining his emphasis on customer satisfaction as an important part of the retail experience. It's a catchy saying, an
We're taking a short break for the week of Christmas and New Years. We'll be back on January 1st with more small biz talk. In the meantime, Merry Christmas and Happy New Year! Ask Mitchell and Scott a question! Email: [email protected]
Business is frequently reduced to numbers -- revenues, costs, ratios, and percentages -- but not every aspect of business operations can be described purely numerically. As Mitchell and Scott discuss on today's episode, the hassle of any given
Mitchell and Scott ruminate on the life of Charlie Munger, legendary investor and vice chairman of Berkshire Hathaway who recently passed away at age 99. For decades, Munger was the right-hand man of perhaps the most famous investor of all time
Matt recently wrote into the show to ask about best practices for buying a business, and more specifically his uncle's pest control business. Matt has worked in the business some, and has an opportunity to buy the business, but isn't sure about
Too many business owners use accounting to essentially stay out of jail, or at least out of trouble with the IRS. They close their books once a year so they can file their taxes, then move on, having learned little of value about the business'
If you want your business to grow beyond a certain point, you'll eventually need to hire employees, and you'll need to let them take over some of the work that you have been doing. Many business owners get hung up on delegating tasks to others,
Mitchell says that small business is the best tax deal in America, and in today's episode he expalins why! He outlines 10 ways business owners can take advantage of tax credtis, deductions, legal entities, and investment vehicles to lower their
There are a few things you need to start a business, which Mitchell and Scott covered in episode #8, and a whole lot of things you don't need: investors, a business plan, core values, conference rooms, shirts with your company logo... Mitchell
The worst time to look for a lawyer is when you have a big legal problem and need help. Nevertheless, that's exactly the position many people find themselves in when they start looking for a lawyer. Early on at Data Storage, Scott had a lawyer
Mitchell and Scott outline the basic things you need to get a business going: which legal entity to pick, how to register for it, how to setup a bank account, and more. As Scott underlines, the most important thing for starting a business, that
Freelancing is very common in today's "gig economy," and in a way it's a lot like owning a business. The freelancer has to be her own sales force, her own marketing division, her own bookkeeper, etc. Freelancing is essentially owning your own j
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