Any CPAs up in here? Estimated tax question

[Gonzo]

Cash is much better than check. Very little reason for checks to even exist in this day & age.

We get hit up weekly by kids coming around selling stuff, doing fundraisers, GS cookies, cards for HS booster clubs, etc. Just yesterday had some come by raising $ for American Heart Association. Wife and I rarely keep much cash on us so I cut checks all the time for them.

 

[soccercy]

Trying to figure out if should claim our son who was in school for 5 months as he graduated and lives at home now, or if he should claim himself on his taxes as he has worked the last 7 months of year.

Depends on multiple factors, our daughter is a freshman, we paid her tuition this year, but our income was too high to claim the education credit. So we did not claim her as a dependent this year, so that she could file and claim that credit. We'll likely do the same next year. It was a net positive in total returns for us.

 

[Tailg8er]

We get hit up weekly by kids coming around selling stuff, doing fundraisers, GS cookies, cards for HS booster clubs, etc. Just yesterday had some come by raising $ for American Heart Association. Wife and I rarely keep much cash on us so I cut checks all the time for them.

Yeah, suppose that makes sense. I always try to keep at least $40 on me in cash for those very scenarios, and if I just happen to run into someone selling something at a great price who will only take cash.

 

[isufbcurt]

Cash isn't the only option besides checks, though..

Our company is up to ~75% EFT payments & we try to get as many vendors signed up for that as possible. Personally I'm probably at 99% of paying for things electronically - whether that's credit card, e-check, online bank payment, autopay, venmo, paypal, whatever.

I know. I pay a lot of clients bills with eft through their banks.