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.
What Is the Tax Extension Date For Hampton Roads Extended Filers?
Quick Answer: For individual taxpayers, the federal deadline to file your extended tax return (Form 1040) is October 15. Or September 15, if...
What Are the IRS Rules on Claiming Dependents After Divorce For Hampton Roads Parents?
Quick Answer: The IRS automatically gives the dependent tax claim to the parent the child slept under the same roof with for at least 183...
How Does the SALT Deduction Work For Hampton Roads High Earners?
Quick Answer: In 2026, the State and Local Tax (SALT) deduction allows you to write off up to $40,400 on Schedule A, but a Modified Adjusted...
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...