YFP Tax Client Hub

Welcome to the YFP Tax client hub!

Answers to common YFP Tax questions, 2022 tax changes, reminders, and common items that slow down tax preparation can be found on this page.

Tax Changes

2022 Tax Changes

Here are some important changes for this tax season:

  • Taxpayers may no longer take the $300 credit for charitable contributions when taking the standard deduction
  • Residential clean energy credit is restored to 30%
  • Energy efficient home improvement credit extended
  • Electric motor vehicle credit requires final assembly in North America beginning on 8/16/2022 (see clean vehicle credit FAQ for more information here)
  • Take a look at upcoming tax changes for 2023 here.

Reminders from YFP Tax


Please do not send us your tax documents via email. We use the document portal in TaxDome as an extra layer of security to protect your personal information.


Please turn on two-factor authentication in TaxDome settings to further protect your personally identifiable information.


Clients who have not submitted their completed tax questionnaire by March 20th are likely to be extended.



A tax return extension does not extend the time allowed to pay your tax liability (see extension FAQ for more information).

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Common Items that Slow Down Tax Preparation

Want to avoid the tax preparation process from slowing down? Stay clear of these common items:


Only one spouse signs the engagement letter (remember: both signatures are required!)


Failure to finish and submit tax questionnaire in TaxDome


Missing forms or documentation

Here are some examples:

  • Documentation on estimated tax payments made
  • Documentation for payments made with tax extension
  • Documentation on expenses for sole proprietorship
  • Documentation on cryptocurrency transactions (form 8949, see FAQs)

Frequently Asked Questions

Where do I log in to complete the steps to allow YFP Tax to prepare my return?


Do I have to sign into two portals?

Not this year! We have worked hard in between tax seasons to improve our workflows both internally and for our clients.

When will my return be ready? Where am I in the process?

Where do I find my tax forms?

Can YFP Tax get my tax documents from the accounts that YFP Planning manages?

The tax team does not have access to these documents in order to keep your information secure and only provides access to those who need it. If you're having trouble accessing your documents, please reach out to your financial planner.

What information does YFP Tax need on my cryptocurrency transactions?

Cryptocurrency is taxed as property by the IRS. Therefore, every cryptocurrency transaction requires reporting the cost and value at the time of the transaction. This may be if you purchased something using cryptocurrency, converted your cryptocurrency to another type of cryptocurrency, sold your cryptocurrency, received cryptocurrency as a reward from your cryptocurrency buying/selling/trading/storing platform, as well as other crypto transactions. If the platform you use does not produce a form such as a 1099-B, 1099-MISC, or 1099-COMP reporting each of these transactions, we will need you to use a third-party crypto tax software application to produce a form 8949 that reports all gains and losses. Here is a list of some crypto tax software options:


Be sure to include your full name and social security number at the top of each page of the 8949 to prevent slowing down the preparation of your return.

Here is an example from Koinly on how to report transactions from Coinbase Pro.

Is the questionnaire for me only or also for my spouse?

The questionnaire is for both you and your spouse. A tax review list will generate for your spouse when you select "married" as your marital status.

Can I claim a tax deduction for charitable contributions?

It depends! If you itemize deductions, you can include charitable contributions. If you take the standard deduction, you can no longer deduct charitable contributions. This was a change from the 2021 tax year.

How much will it cost?

Please refer to the engagement letter on the contracts tab in TaxDome for pricing. Complexity fees will be assessed for:

  • Self-employment: Schedule C 
  • Rental: Schedule E, Part 1 
  • K1-Income: Schedule E Part 2 
  • Household Employment: Schedule H 
  • Part-year and Nonresident State Return(s) 
  • Married Filing Separate (MFS) Non-Community Property State 
  • MFS Community Property State 
  • Standard Employee Stock Options 
  • Sale of Home or Rental Property 
  • Local Returns (OH, PA, MI, etc.) 
  • LLC State Franchise Tax 
  • Complexity Fees Per Hour (Examples Include: Missing/incorrect basis, elections, dependent returns. missing/incorrect depreciation, amended returns, FBAR reporting, numerous cryptocurrency transactions, complex employee stock option transactions, etc.)

Is the base fee for me only, or also for my spouse?

The base fee covers you and your spouse if you are filing a joint return. An additional fee will be assessed for married couples filing separate returns as outlined in the engagement letter.

What qualifies for the energy-efficient home improvement credit?

Costs associated with the installation of solar electric/water heating property, fuel cells, geothermal heat pumps, small wind energy property, and biomass fuel property.

What qualifies for the clean vehicle credit?

Qualified plug-in or fuel cell vehicles: Click here for a list of qualified vehicles provided by the IRS.

Beginning August 16, 2022, in order to qualify for the credit, the final assembly of the vehicle MUST occur in North America. Click here for a list of vehicles with final assembly in North America provided by the US Department of Energy.

How is 1099-NEC Income reported? Will YFP Tax file my business tax return?

1099-NEC/sole proprietorship income is reported on your personal return on a form Schedule C. YFP Tax will report the information you have provided when preparing your tax return. See your engagement letter for complexity fees assessed. 

If the business is an LLC taxed as a partnership or S-Corp, a separate engagement agreement is required to complete the 1065 or 1120-S return. Additional costs will be assessed.

What information does YFP Tax need to file taxes for my sole proprietorship?

We need all of your income and expenses for your business and contract work. A profit and loss statement from your accounting software is a good source. If you don’t have anything, you can use our template provided below. Please note: anything listed as “miscellaneous” is required to have a description on your tax return; please provide that. Click on the button below to download a copy of the Income and Expenses Worksheet (will be sent to your email address).

How to fill out the worksheet: Download the PDF, open it with a PDF reader, fill out the worksheet using the "Fill and Sign" feature in tools, save, and upload it to TaxDome.

Download Income and Expenses Worksheet

What information does YFP Tax need to report for my rental property income?

We need all of your property information, income, and expenses for your rental properties. You must report income and expenses on each property individually. So, make sure the information is assigned to a property when you provide it to us. Property information needed includes the address, type of property, days of personal use, days owned, date first rented, and the number of days rented. We can calculate the number of days rented if we have a start and end date. If you need a template to use, please click on the button below to download a copy of the Rental Schedule E Worksheet (will be sent to your email address).

How to fill out the worksheet: Download the PDF, open it with a PDF reader, fill out the worksheet using the "Fill and Sign" feature in tools, save, and upload it to TaxDome.

How does a tax return extension work? Will I be extended?

Tax return extensions allow preparers time to gather all necessary documentation before completing and filing returns. In many cases, extensions are required based on the nature of the taxpayer’s business activities. For example, a taxpayer who is a partner in a partnership that filed a business tax return extension will need to file an extension for their personal return. Taxpayers with K-1s, complex cryptocurrency transactions, business activity, and other highly complex returns should expect an automatic extension. Additionally, taxpayers who have not answered the tax questionnaire and provided all of their tax documents by March 20, 2023, should expect an extension.

A tax return extension does not extend the amount of time to pay taxes due. You should make a payment at irs.gov/payments by the original due date of April 18, 2023, to minimize assessed interest and penalties on taxes due. Be sure to make a payment to your state if needed as well. If you're not sure how much to pay, aim to pay at least 110% of your tax liability from 2021 to avoid penalties (you can find this on your 2021 tax return). Don’t forget to consider amounts withheld by your employer in your calculation of tax due. If you overpay with your extension, you will be able to get a refund once the return is filed. Penalties will not be assessed on tax refunds.

When will I receive my tax refund?

It depends! Federally, your refund should be issued within three weeks after the return is accepted, faster when you choose direct deposit. State refunds may vary and some took up to 8 weeks last year. Unfortunately, we do not have any more information about your refund than what you’re able to look up on the IRS website or your state’s tax website. You should receive a letter in the mail if your refund is delayed for some reason.

Watch this video with YFP Director of Tax, Sean Richards, CPA, EA for what you need to know about the Inflation Reduction Act.

Upcoming Tax Changes

These are additional inflation reduction act credits that begin in 2023:

  • Energy efficient home improvement credit increased to 30% of installation with a $1,200 annual credit
  • Clean vehicle credit
  • Credit for previously owned clean vehicle
  • Credit for qualified commercial clean vehicles
  • Energy, carbon capture, manufacturing, and fuel production tax credits and investment tax credits