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Kandungan disediakan oleh Mitchell Baldridge. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mitchell Baldridge atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
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#19 - Should You Switch to Accrual Accounting? Also, Why Tax Write Offs Are Overrated

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Manage episode 395455279 series 3510953
Kandungan disediakan oleh Mitchell Baldridge. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mitchell Baldridge atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

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 business doesn't need the equipment. Scott and Mitchell explain why spending money on equipment you don't need to save on taxes is a bad decision, and why tax planning around write offs is a poor strategy for the small business person in general.

Ask Mitchell and Scott a question:

Email: show@stupidtaxpod.com

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com

  continue reading

33 episod

Artwork
iconKongsi
 
Manage episode 395455279 series 3510953
Kandungan disediakan oleh Mitchell Baldridge. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Mitchell Baldridge atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

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 business doesn't need the equipment. Scott and Mitchell explain why spending money on equipment you don't need to save on taxes is a bad decision, and why tax planning around write offs is a poor strategy for the small business person in general.

Ask Mitchell and Scott a question:

Email: show@stupidtaxpod.com

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com

  continue reading

33 episod

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