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 crypto -- to heavily lifestyle-influenced decisions such as marrying well or having a family.

Scott's take on the question? Embrace thrift. Realize that every dollar you earn beyond what you need to live on is time and energy that can be stored for later... or squandered. One common refrain in the comments of Mitchell's post was fortuitous timing, which is mostly out of our control. In fact, many of the things which we might consider financial decisions are out of our hands, or at least have a lot of variables outside our control, so stewardship of our resources is one of the most, if not the most, important financial decisions we'll ever make.

Got a question for Mitchell and Scott? Email them at:

show@stupidtaxpod.com

Follow The Stupid Tax on Twitter/X: @stupidtaxpod

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com

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 handful of other customers as well. The owner is also selling a number of concrete trucks and other equipment. The potential buyer has the knowledge to operate the plant, and the plant appears to be underutilized, however there are important questions about the value of the accompanying trucks and equipment and the overall asking price and terms of the sale.

Mitchell and Scott are excited about this business, but as they dig into the details they raise important questions about the seller's motivations and whether the terms of the deal are worth buying the business, versus starting one from scratch.

Want Mitchell and Scott to examine your business idea? Email them at:

show@stupidtaxpod.com

Follow The Stupid Tax on Twitter/X: @stupidtaxpod

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com

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 necesasry equipment to train for powerlifting, weightlifting, and crossfit, but in a small footprint, under 1,000 square feet. Mitchell also shares an update on the recent tax season, and the state of hiring accountants in 2024.

Want your question answered on a future podcast? Email Mitchell and Scott:

show@stupidtaxpod.com

Follow The Stupid Tax on Twitter/X: @stupidtaxpod

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com