A beveling and weld bead removal tool includes a spindle, a cutting wheel mounted on the spindle; a hood configured to receive the cutting wheel therein; and an interchangeable guide adjustably attached to the hood. An outside support bearing provided on the spindle housed within the hood. The interchangeable guide includes one of a flat guide and a V-block guide, each having a pair of plates arranged together side by side and end caps arranged at an end portions of the pair of plates. An opening is formed between the pair of plates that selectively allow a protrusion of the cutting wheel. The flat guide has the plates arranged parallel to each other, and the V-block guide has the plates arranged at an angle to each other. A depth of a cut is adjusted by selectively positioning and securing the end caps on machined slots formed on the hood.