Small Business Accounting Services in Virginia Beach & Hampton Roads

Focus on serving your clients and growing your business—while we handle the numbers.                     

Managing your books takes valuable time away from running your business. At FasTax, Inc., we provide professional bookkeeping and accounting services so you can focus on serving your clients and growing your company.

From bank reconciliation to balance sheets, our accounting services give you accurate, timely financial information, fraud protection, and peace of mind—without the stress of doing it yourself.

Monthly or quarterly, depending on the size of your business and your specific needs, we will take care of the following accounting and bookkeeping services, which benefit your business in the following ways…

Bank reconciliation

9

Identify lost checks, lost deposits, or unauthorized wire transfers.

9

Detect and prevent embezzlement of funds from within your business.

9

Track your business growth and manage your cash effectively.

9

Protect yourself from bank errors, fraudulent checks, and other financial crimes directed toward your business.

Income statements

9

We will provide you with regular profit / loss statements that will help you track the operating costs of your business.

9

Understand what areas of your business are over / under budget and identify the specific areas that need attention to keep your business profiting.

9

Track increases in product sales or returns as a percentage of your sales.

9

Determine your current tax liability.

General ledger management

9

We can help you set up a general ledger system, or identify problems with your current ledger system, that will allow you to eliminate discrepancies and maintain accurate records for your business.

Balance sheets

9

Gives you a snapshot of the financial health of your business at any given point of time.

9

Identify and analyze trends in receiving and payables and take prompt action to keep those trends going in a direction beneficial to your company.

9

Balance sheets, along with income statements, are the single most important elements for reporting to potential lenders and investors.

We can also customize our service to you by adding…

9

UNLIMITED CONSULTATIONS.

9

Payroll management.

9

Tax planning and preparation.

9

Any number of a wide variety of financial services that would benefit your business.

Ready to stop stressing over bookkeeping?

Contact FasTax Inc. today [link to lead capture form] to learn how our accounting services can free up your time and help your business grow.

Let Us Help:

Who Can Claim the American Opportunity Tax Credit? Guidance for Hampton Roads Parents

Quick Answer: The American Opportunity Tax Credit (AOTC) must be claimed by whoever legally lists the student as a dependent on their federal tax return. If a parent claims the undergraduate, the parent gets the credit; if the student is independent, they claim...

Do You Get Better Tax Breaks For Being Married, Hampton Roads Couples?

Key TakeawaysMost married couples lower their tax liability by choosing the Married Filing Jointly status, which preserves access to deductions that separate filers lose. When there is a significant income gap between partners, combining earnings on a joint...

2026 Guide to Short-Term Rental Taxes for Hampton Roads 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 for more than 14 days (or 10% of the rental period). You will only receive a Form 1099-K if you exceed $20,000 in...

Do You Have to Pay Taxes On Sports Betting? What Hampton Roads 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 2026 tax year, you can only deduct 90% of your gambling losses against your winnings, even if you ended the year...

The Hampton Roads Taxpayer’s Guide: 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 penalties. Updating your Form W-4 by late April allows you to spread adjustments across the majority of the year, minimizing the...

How Does Self-Employment Tax Work For Hampton Roads 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 halves through self-employment tax. Self-employment tax is 15.3% of your adjusted net earnings, and you also pay...

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...