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 Taxes Do You Pay in Retirement That Most Virginia Beach Retirees Overlook?
Quick Answer: The most frequently overlooked retirement tax traps are taxable Social Security benefits, Medicare IRMAA surcharges, and forced...
Last Minute Tips for Virginia Beach Taxpayers to File By Extended Tax Day
Quick Answer: To meet the October 15 deadline, pull missing tax records directly from your IRS Online Account and verify your identity using your...
How Much Do Independent Contractors Pay In Taxes? FasTax Inc.’s Tax Strategies for 1099 Contractors
Quick Answer: How much do independent contractors pay in taxes? Independent contractors typically pay between 25% and 35% of their net profit in...
Do You Have to Pay Taxes on PayPal, Venmo, or Cash App Payments For Your Virginia Beach Side Hustle?
Quick Answer: You have to pay income tax on any net profit earned through PayPal, Venmo, or Cash App, regardless of whether the platform issues...
What’s the Best Time for Virginia Beach Retirees To Execute Retirement Planning Tax Strategies?
Quick Answer: Retirees should execute retirement planning tax strategies during their gap years, which are the temporary low-income window...
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...