Small Business Tax & Accounting Services in Virginia Beach & Hampton Roads

Establish greater profitability and business efficiency with our business services

Your business deserves more than just tax preparation. It deserves a financial partner who understands the challenges of running and growing a company. At FasTax, Inc., we provide small business owners with the tools, strategies, and accounting support they need to improve profitability, stay compliant, and plan for the future.

From bookkeeping and payroll to QuickBooks setup, succession planning, and strategic coaching, we’ve been helping Hampton Roads businesses succeed for decades. Whether you’re just starting out or running an established company, our team is here to help you focus on what you do best—while we take care of the
rest.

Accounting Done For You

Spending hours buried in spreadsheets? Let us handle your accounting so you can focus on running and growing your business.

Bookkeeping For Growth

Accurate, detailed records are about more than numbers. They reveal the story of your business and opportunities to grow it.

Cash Flow Management

Cash flow is the lifeblood of your business. We’ll help you track, manage, and plan so you’re always positioned for stability and success.

Payroll Services

Avoid compliance issues and protect your employees with accurate, timely payroll processing that keeps the IRS satisfied and your team paid.

Quickbooks Services

From setup to ongoing support, we’ll help you maximize QuickBooks to save time, reduce errors, and improve financial visibility.

Succession Planning

Whether you’re passing your business to family or preparing for sale, we’ll help you create a smooth, tax-efficient transition.

Strategic Business Coaching

Beyond tax and accounting, we offer personalized guidance to strengthen operations, improve decision-making, and position your business for long-term success.

Mistakes Hampton Roads 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 penalties and interest. For 2026, the IRS assesses a 0.5% monthly failure-to-pay penalty plus 7% annual interest...

s the Self-Employment Tax Credit Real? And Other Tax Scams Hampton Roads Taxpayers Should Watch For

Key TakeawaysToday’s tax scams look professional, sound convincing, and are built to get your Social Security number, filing credentials, or signature on a bad return. A big refund promise is one of the clearest warning signs of a scam. You are responsible...

Will the IRS Ever Call You On the Phone? 6 Tax Scams for Hampton Roads 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 message demanding immediate payment, threatening arrest, or asking for gift cards, crypto, or banking information is a...

FasTax Inc.’s 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 due. Filing an extension makes sense when your return would otherwise be incomplete or inaccurate. You should consider...

How Do Taxes for Freelancers and Hampton Roads 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 Schedule SE for self-employment tax. Even if you never receive a 1099, your freelance or side gig income is still...

How Long Should My Tax Refund Take? What Hampton Roads Taxpayers Can Expect

Key TakeawaysMost federal tax refunds are issued within 10–21 days after the IRS accepts your e-filed return. E-filing with direct deposit is the fastest method, usually delivering refunds within about three weeks. Returns claiming credits like the Earned...

Are IRA Contributions Deductible for Hampton Roads Savers?

Key TakeawaysTraditional IRA contributions may be deductible, depending on your income, filing status, and whether you or your spouse are covered by a workplace retirement plan Roth IRA contributions are not deductible, but qualified withdrawals in retirement are...

Hampton Roads Taxpayers Filing in 2026: When Should You Hire An Accountant For Taxes?

Key TakeawaysIf your return is truly simple (one W-2, standard deduction, no investments or side income), tax software may be sufficient. If you have self-employment income, rentals, investments, multi-state issues, or major life changes, filing with a...

How Much Do I Have To Make To File Taxes With My Hampton Roads Tax Preparer?

Key Takeaways For the 2025 tax year, a single taxpayer under age 65 generally does not need to file if total income is below $15,750 (assuming no special circumstances apply) Certain types of income, like self-employment income or taxable Social Security,...

How Do Trump Accounts Work For Hampton Roads Kids?

Key TakeawaysTrump Accounts are long-term, tax-deferred savings accounts designed specifically for children Parents or guardians manage the account until the child turns 18, after which the child takes over Certain children (especially those born between...