Mitchell Baldridge is a Certified Public Accountant and Certified Financial Planner with vast experience in corporate accounting, business advisory, and financial planning. His passion is building lifelong relationships with business owners to help them thrive.  On this episode, Mitchell and Chris discuss the nuances in financial planning for business owners, best practices to take before selling your business, bulletproof ways for normal people to save on taxes, Twitter and more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.Linkedin.com/in/chrispowersjr/ Follow Mitchell on Twitter: www.Twitter.com/BaldridgeCPA (02:51) - Mitchell’s Story and What He Does Today (05:46) - Knowing How to Make Money vs. Knowing How to Invest Money (06:40) - Thought Experiment: Family business owner, late in a career, $50 M company w/ three kids & grandkids and no planning. What do you recommend? (16:02) - Is there a certain dollar amount you need to start thinking about this planning? (17:03) - Setting up a Giving Plan (21:10) - The Fractional Family Offices & Creative Planning (24:32) - What technology are you using right now? (25:30) - Twitter Q: Why do most CPAs act like they work for the IRS instead of their client? (28:58) - What’s it like to be so intimately involved with people making incredible amounts of money? (30:22) - If you’re selling your business, are there best practices to do a few years out? (32:35) - What’s a Loan Out Corp? (34:48) - Do they need audited financials years in advance? (35:34) - What is QSBS? (Qualified Small Business Stock) (28:25) - How does a SPAC work? (Special Purpose Acquisition Company) (40:17) - What are some outlandish ways you’ve seen people avoid taxes? (41:36) - Is there a bulletproof way to save on taxes for the average person? (42:59) - What’s a cash balance pension plan? (45:12) - What are the benefits for Multi-Family vs. Commercial asset classes with Cost & Bonus Depreciation? (54:42) - What pieces of real properties (parking areas, concrete on commercial areas, etc.) are often overlooked for bonus depreciation? (56:12) - Is the best practice to call your CPA after every deal? (58:04) - How do you most efficiently structure a holding company with both operating and real estate investments? (1:00:07) - How do you best structure family businesses that will succeed from one generation to another? (1:02:34) - What is the coolest way you’ve seen a family set benchmarks for grandkids to actually earn money from a plan? (1:05:36) - How are you thinking about growing your business going forward? (1:08:46) - Twitter as a Mode for Growth (1:12:55) - Nick Huber (1:16:40) - Do you have a childhood experience that shaped the direction of your life? (1:18:50) - Is there something you believe that a lot of people around you don’t? (1:19:38) - What’s the best advice you’ve ever been given? (1:20:30) - Do you have a book that you love? Think & Grow Rich by Napoleon Hill Choose yourself by James Altucher (1:21:41) - What’s the best way for people to reach you? The FORT with Chris Powers is produced by Straight Up Podcasts