Tim Thompson CPA - April 2020

April 2020

Sidd Finch and the Story of the 120 MPH Fastball

When I was a kid, my dad had a subscription to Sports Illustrated. On April 1, 1985, when they ran a story that the New York Mets had discovered

Most CPAs have a certain disdain for April 14 because of the looming tax deadline, but April 14 means something completely different to me. On that day in 1988, my dad passed away. Every year right at the point when my professional life picks up speed, I’m also thinking about losing him.

a new pitcher named Sidd Finch, my dad ate it up. The story claimed the Mets had found a man out in the sticks with no previous baseball career who pitched in boots and threw a 120 mph fastball.

My dad had polio when he was a kid, so his right leg and right arm had small deformities. He wore what I call the “Forrest Gump brace” on his right leg, but he never let his disability slow him down. He was strong. If you were in trouble, you didn’t dare run from him. You always knew you’d have to come home eventually and running would only make that worse. My dad loved people, and he loved life.

My dad was the city service manager for the town I grew up in, and he was so excited when he saw the article that he took the magazine to work and showed all his employees. Boy, were they excited. Everybody in the office was suddenly a fan of the Mets all because they wanted to see this guy pitch.

Back then, there was no social media or website to constantly check and get

I remember coming home once — my mom can confirm — and there was nothing left in the kitchen but a couple of plates and a frying pan. My dad heard that one of his employees had a house fire and lost everything, so he packed everything up in the car and gave it to the guy to help him get back on his feet. That’s just the kind of guy he was.

information from, so a whole month passed by with no news about Sidd Finch. When the next edition of Sports Illustrated came out, it said, “Oh, by the way, April fools!” They got him good, and my dad knew it. He could pull practical jokes with the best of them, but he didn’t enjoy having one pulled over on him, not one bit. He called the next day and canceled his subscription. These days, with all the social media channels we have, there is so much information that it can feel impossible to keep up. Plus, conflicting information runs amok, so it’s hard to tell the real from the fake. This is partly why I started a weekly video newsletter. If you’re on that list, then hopefully I’m doing some of that investigative work for you. I won’t pretend to know everything, but I’m not afraid to admit when I don’t have the answer to a question. And I’m constantly learning more about what I do to make sure I’m answering my clients as precisely and accurately as possible.

Every year, I think about him in April. And this year, in his honor, I’ll be keeping a look out for the next Sidd Finch. Fool my dad once, shame on you. Fool him twice? No way.

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The Top 3 NHL Players of All Time

On April 4, NHL teams will play the last games of the 2019–20 season, and playoffs will begin shortly after. While current NHL stars like Connor McDavid and Nikita Kucherov are sure to light up the ice, this is the perfect time of year to reflect on some of the greatest NHL players of all time. Though NHL history is full of outstanding players, three individuals always enter the discussion: Gordie Howe, Bobby Orr, and of course, the one and only Wayne Gretzky. Here are some interesting facts about these legendary players! Gordie Howe, also known as “Mr. Hockey,” played professional hockey for 32 seasons between the NHL and the World Hockey Association, and he achieved some impressive numbers during his career. Howe was known for being tough, and the term “Gordie Howe hat trick ‘’ was coined in his honor and is used when a player scores a goal, makes an assist, and gets into a fight all in one game. Aside from Wayne Gretzky, Howe is the only player in NHL history to record 800-plus goals. GORDIE HOWE

surging forward to assist offense, and his style remains the gold standard for defensive play in the NHL. After retiring, Orr was awarded the Lester Patrick Trophy in recognition of his contributions to the sport.

WAYNE GRETZKY

Often labeled as the best hockey player of all time, Gretzky holds a long and storied list of records as an offensive player. He remains the only NHL player to record 200 points in a single season, which is a feat he accomplished not once, not twice, but four times. Gretzky also holds the record for most goals in a single season (92) and for being the fastest to reach 50 goals in a season in just 39 games.

BOBBY ORR

Bobby Orr holds the record for the most points and assists by a defender in one season, with 139 and 102 recorded, respectively. He was known for

What to Do If You Got an Unexpected Tax Bill

If you got a surprise when you filed your taxes this year, it may be time to revisit your W-4s. For most people, an unexpectedly large tax bill is what happens when your employer withholds an insufficient amount of money from your paycheck each month, and unless you have recently updated your W-4, they likely still are. Updating your W-4 won’t change your tax bill this year, but it is a step in the right direction that will make sure you don’t find yourself with another unexpected tax bill next year. If you find yourself with a tax bill that you can’t afford to pay, the IRS will work with you in several ways. First, you can request a payment extension or a six-month grace period. Only people who find themselves in especially adverse financial circumstances qualify for payment extensions, but if you can prove that paying on time will cause you to suffer a substantial financial loss, you might qualify.

The IRS accommodates payment plans. They do charge interest, and there is a small fee to set up the plan, but implementing a payment plan is still better than getting hit with the penalties associated with missing tax deadlines. Ultimately, the best way to deal with the situation of owing more in taxes than you can afford to pay is to avoid it. If you are an employee, make sure that the W-4s your employer has on file for you are up to date and accurate. If you have a large tax bill you are struggling to pay, at Tim Thompson CPA, we can help you work out a plan to get current. Regardless of your specific situation, we will do everything we can to get you back on track. Visit MyDFWCPA.com to learn more about how we can help you stay on top of your taxes!

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A DAY AT THE RACES XXI: LE CHAPEAU AFFAIRE When: April 25 Where: Lone Star Park Cost: $125–$200 This fundraising event styled after the Kentucky Derby benefits the Plano North Metroplex Chapter of The Links, Incorporated, a nonprofit that works to build friends through service to the community. This event offers the opportunity to showcase hats as well as experience live race events at the track. Tickets include dinner and live music. Visit PlanoNorthMetroplexLinks.org to learn more. What’s Happening, Dallas?

SUDOKU

TACO LIBRE DALLAS When: April 25 Where: The Shed, Dallas Farmers Market Cost: $17–$55

EASY DEVILED EGGS

Taco Libre Dallas combines two good things: 28 of the region’s highest quality taquerias and lucha libre wrestling. This event will also feature live music. Tacos range from traditional to experimental. To learn more, visit TacoLibreFest.com.

‘THE SCIENCE BEHIND PIXAR’ When: April 25 through Sept. 7

Where: Perot Museum of Nature and Science Cost: $13 and up

Bring the whole family to take a look at the process behind Pixar films. This event will feature hands-on

While the kids hunt for Easter eggs in the yard, whip up this easy deviled egg recipe for a hearty snack that’s sure to satisfy any craving.

activities that showcase the science, technology, engineering, and math concepts used to create Pixar’s films. Come face to face with recreations of characters like Buzz Lightyear, Dory, and WALL-E to name just a few! To learn more, visit PerotMuseum.org.

• 1/2 cup mayonnaise • 2 tbsp milk • 1 tsp dried parsley flakes • 1/2 tsp dill weed • 1/2 tsp fresh chives, minced • 1/2 tsp ground mustard

• Salt, paprika, garlic powder, and pepper, to taste • 12 large eggs, hard-boiled • Fresh parsley, minced, and paprika for garnish

DALLAS CHAMBER SYMPHONY PRESENTS ‘SCHUMANN 4’ When: May 5 Where: Moody Performance Hall Cost: $19–$54

1. In a large bowl, combine mayonnaise, milk, parsley flakes, dill, chives, mustard, salt, paprika, garlic powder, and pepper. Mix well and set aside. 2. Cut eggs lengthwise and remove yolks carefully to preserve egg whites. 3. In a small bowl, mash yolks. 4. Mix mashed yolks with mayonnaise mixture. 5. Spoon or pipe the mixture back into the egg whites. 6. Garnish with fresh parsley and paprika. Refrigerate before serving.

The Dallas Chamber Symphony will close out its season with their “Schumann 4” concert. The show will feature Dallas Chamber Symphony’s concertmaster violinist Kazuhiro Takagi and principal cellist Jesús Castro-Balbi while the orchestra plays Johannes Brahm’s “Double Concerto.” To learn more, visit DCSymphony.org.

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inside

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Sidd Finch and the Story of the 120 mph Fastball

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The Top 3 NHL Players of All Time What to Do If You Got an Unexpected Tax Bill

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What’s Happening, Dallas? Easy Deviled Eggs

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Eco-Friendly Diets

The Top 3 Ways to Eat Eco-Friendly SAVE THE PLANET WITH YOUR PLATE

ADOPT MEATLESS MONDAYS OR MORNINGS If you’re not ready to commit to a plant-based diet, going vegetarian one day a week can be a great option. Adopting a plant-

Can your diet save the planet?

It can be difficult to see the connection between your plate and the planet, but scientists say that eating less red meat and processed foods can greatly reduce your environmental impact. About 25% of climate change today is fueled by agriculture and factory farming, particularly the large quantities of the greenhouse gas methane that cows produce. This means that the fewer animal products you consume, the more sustainable your diet will be. Producing and packaging beef is 100 times more emissions-intensive than producing legumes. While a lack of protein is a common concern about plant-based diets, many dietary experts say that plant-based diets can meet nutritional needs. Also, proteins aren’t the only nutrient your body needs, and dozens of vegetables and starches can offer a combination of proteins that are as complete and healthy as beef or chicken.

based diet one day a week or eliminating meat from one meal a day is a great way to reduce meat consumption.

GO FLEXITARIAN If you want to eat more vegetarian meals but find animal products are too hard to give up, going flexitarian is a good compromise. A flexitarian eats mainly plant-based dishes but also includes a modest amount of poultry, fish, milk, and eggs with a limited amount of red meat. If you’re able to dedicate even just one week to trying a plant-based diet, it can help you get a feel for if you’re capable of making the switch. You may even realize that it’s not hard to change your diet, and you might find it fun to try a whole different range of flavors through vegetarian food as you “reinvent” your favorite meaty dishes.

With April being Keep America Beautiful Month, here are some eco-friendly diet adjustments anyone can make to help preserve the planet.

EAT PLANT-BASED DIETS The main goal of a plant-based diet is to replace animal products as the centerpiece of the meal. At least three-fourths of your meal should be vegetarian, but you don’t necessarily need to cut meat out altogether. For example, eating a Mediterranean diet can be very sustainable. Red meat is rare, and there’s a strong focus on legumes and vegetables.

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