Insights & Strategies for Smarter Tax Planning
Expert advice, updates, and practical tips to help you keep more of what you earn.
At FasTax Inc., we believe that knowledge is power, especially when it comes to managing your money and minimizing your tax burden.
Our blog is designed to keep individuals and small businesses in Virginia Beach informed with timely updates, easy-to-understand strategies, and actionable insights. From breaking down tax law changes to sharing smart financial planning tips, we’re here to help you make informed decisions year-round.
Explore our latest posts and see how proactive tax planning can protect your bottom line. Want to talk more about what you read here? Send us a message or call us at (757) 460-5862.
How 529 Plans Are Taxed for Hampton Roads Families
Quick Answer: Contributions to a 529 plan are made with post-tax dollars, allowing your investment to compound shielded from federal and state...
How Does the Lifetime Learning Credit Work for Hampton Roads Students, Parents, and Professionals?
Quick Answer: The Lifetime Learning Credit (LLC) is a non-refundable federal tax credit worth up to $2,000 per tax return. It’s calculated as...
Should Virginia Beach Homeowners Add A Name To A Deed?
Quick Answer: While it’s mechanically simple to add a name to a deed, doing so during your lifetime is a financial mistake that triggers...
What Is the US Retirement Age Timeline for Virginia Beach Retirees?
Quick Answer: The official US Full Retirement Age is 67 for anyone born in 1960 or later, but true retirement is an 11-to-13-year financial timeline...
Supporting Virginia Beach Charities? How 2026 OBBBA Charitable Giving Contributions Work
Quick Answer: Effective for the 2026 tax year, the One Big Beautiful Bill Act (OBBBA) establishes a new universal deduction allowing non-itemizers...
Calculating Crypto Taxes Simplified For Virginia Beach Investors
Quick Answer: Crypto taxes are calculated by subtracting your cost basis from your gross proceeds for each taxable sale, swap, or purchase made...
How the Secure 2.0 Act Changes Beneficiary IRS Tax Rules For Your Virginia Beach Heirs
Quick Answer: Under the SECURE 2.0 beneficiary IRA tax rules, most non-spouse heirs must fully liquidate an inherited IRA within 10 years, with...
Who Can Claim the American Opportunity Tax Credit? Guidance for Virginia Beach Parents
Quick Answer: The American Opportunity Tax Credit (AOTC) must be claimed by whoever legally lists the student as a dependent on their federal...
Do You Get Better Tax Breaks For Being Married, Virginia Beach Couples?
Key TakeawaysMost married couples lower their tax liability by choosing the Married Filing Jointly status, which preserves access to deductions that...