Insights & Strategies for Smarter Tax Planning
Expert advice, updates, and practical tips to help you keep more of what you earn.               Â
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, weâre 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.
2026 Guide to Short-Term Rental Taxes for Virginia Beach Airbnb & VRBO Hosts
Key TakeawaysYou do not have to pay federal income tax on rental earnings if you rent your home for 14 days or fewer per year and use it personally...
Do You Have to Pay Taxes On Sports Betting? What Virginia Beach Bettors Need To Know
Key TakeawaysThe IRS considers all sports betting payouts as ordinary income, regardless of the amount or whether you received a tax form. For...
The Virginia Beach Taxpayerâs Guide:Â How Do I Calculate My Federal Tax Withholding?
Key TakeawaysA large refund is an interest-free loan to the government, while a big bill suggests you are at risk for IRS underpayment...
How Does Self-Employment Tax Work For Virginia Beach Taxpayers Leaving Their 9-to-5?
Key TakeawaysAs a W-2 employee, you pay half of Social Security and Medicare tax through withholding. As a self-employed taxpayer, you pay both...
Mistakes Virginia Beach Taxpayers Should Avoid When Filing For a Federal Tax Extension
Key TakeawaysA federal extension provides six extra months to file, but all taxes owed must still be paid by the April 15th deadline to avoid...
Is the Self-Employment Tax Credit Real? And Other Tax Scams Virginia Beach Taxpayers Should Watch For
Key TakeawaysTodayâs tax scams look professional, sound convincing, and are built to get your Social Security number, filing credentials, or...
Will the IRS Ever Call You On the Phone? 6 Tax Scams for Virginia Beach Taxpayers to Avoid
Key TakeawaysThe IRS does not initiate first contact by phone, text, email, or social media. Initial contact is generally made by mail. A...
FasTax Inc.âs Top 4 Reasons For Filing a Tax Extension
Key TakeawaysA federal tax extension gives you until October 15 to file your individual return, but it does not extend the time to pay tax...
How Do Taxes for Freelancers and Virginia Beach Gig Workers Work?
Key TakeawaysIf you had freelance or side gig income in 2025, you report it on Schedule C. If your net profit is $400 or more, you also file...