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Stupid Tax

Mitchell Baldridge

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The world's most famous accountant, Mitchell Baldridge, and serial small business owner Scott Hambrick explore the best tax deal in America that no one is talking about: small business. They discuss all aspects of starting and operating a small business including sales, marketing, bookkeeping, taxes, and more.
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The Hope + Help Podcast offers biblical conversations about life's challenging problems. A production of the Institute for Biblical Counseling & Discipleship, show host Christine Chappell invites Christian authors, ministry leaders, and seasoned biblical counseling professionals to help listeners apply the gospel of Jesus Christ to everyday challenges.
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Mitchell and Scott are back after a summer break! In June Mitchell posed a question on Twitter/X: "What's the smartest financial decision you ever made?" Mitchell and Scott read through the comments and offer their commentary. The replies range from the typical -- buying a house chealy at low mortgage rates, paying off the mortgage, investing in cr…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Mark Vroegop on his latest book, Waiting Isn't a Waste: The Surprising Comfort of Trusting God in the Uncertainties of Life. Some of the questions addressed in this interview are:• Why do we seem to have a natural aversion to waiting?• How do the Scriptures help us build…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Scott Mehl about his book, Redeeming Sex in Marriage: How the Gospel Rescues Sex, Transforms Marriage, and Reveals the Glory of God. Some of the questions addressed in this interview are:• Why might the topic of sex be such a difficult one for husbands and wives to discu…
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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 contracting business; he acquired the plant to provide concrete for his contracting business, and supplies a ha…
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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 a monthly fee for a time slot at a small but well appointed barbell gym. The gym would have all the neces…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Megan Hill about her newest book, Sighing on Sunday: 40 Meditations for When Church Hurts. Some of the questions addressed in this interview are:• What are some reasons that church may feel like a sad or difficult place to be?• What are some of the unhelpful ways to resp…
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In this episode, host Christine Chappell reflects on five years of Hope + Help Podcast conversations and shares clips from past interviews with guests who are also speaking at this year’s Summer Institute & Pre-Conference in La Mesa, CA on June 20th-22nd.For links to the podcasts, books, events, and additional resources mentioned in this episode, v…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Curtis and Jenny Solomon about their respective books, Redeem Your Marriage: Hope for Husbands Who Have Hurt through Pornography and Reclaim Your Marriage: Grace for Wives Who Have Been Hurt by Pornography. Some of the questions addressed in this interview are:• What are…
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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 reservations he has about growing it beyond a certain point. While T-dub only wants to grow the business eno…
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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 his first full month of operation. The following three months were lean, however, with revenue falling off…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Brad Hambrick about his book, Transformative Friendships: 7 Questions to Deepen Any Relationship. Some of the questions addressed in this interview are:• What makes a biblical view on friendship distinct from popular understanding?• What are some reasons we might struggl…
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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 business, sometimes it's because raising prices feels like conflict and owners are conflict-avoidan. Othe…
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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 paying W-2 job to start a business, and it's a hit! He generates $150k in profit in his first year of operatio…
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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 businesses start this way! The job of the owner is to turn that bad starting business into a good one, a bu…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Tom Sugimura about his book, Hope for New Dads: 40 Days in the Book of Proverbs. Some of the questions addressed in this interview are:• How do secular attitudes about fatherhood contrast with a biblical view of this God-given role?• How does the gospel offer encourageme…
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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 prime targets for fraud and theft, mainly because they tend to have weak or ineffective fraud controls, if t…
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In this episode of the Hope + Help Podcast, host Christine Chappell interviews Camille Cates about her book, Moving Forward After Abortion: Finding Comfort in God. Some of the questions addressed in this interview are:• What are some of the ways that abortion impacts a woman emotionally, mentally, physically, and spiritually?• What are common stumb…
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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 question: show@stupidtaxpod.com Stupid Tax is now on Twitter/X! @stupidtaxpod Mitchell Baldridge Twitter: @baldri…
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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 success. Scott also points out that while some businesses are difficult to scale, there's no reason an op…
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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. Zoomers are well aware of the long and ongoing slide in real middle class wages, as well as employment uncertai…
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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 about the common practice of spending money on new equipment to reduce taxable income, even when the busines…
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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 internet, especially social media and YouTube. Grifting implies some level of fraudulence, however, or at lea…
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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, and variations of it have appeared throughout the retail and customer service industries. However, as Scott …
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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: show@stupidtaxpod.com Mitchell Baldridge Twitter: @baldridgecpa https://baldridgecpa.ck.page https://baldridgefinancial.com Scott Ha…
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