Author Archives: AvMar Intl

Avmar Benefits From Partnership

AvMar International announces they have partnered with MHG Marine Benefits to provide health insurance for their valued yacht clients.  Scott MacPhee from AvMar said “By working with MHG, we will provide our Yacht Owners with a quality benefit package that includes competitive pricing, top quality service and support, along with peace of mind. We know […]

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Moving to or from a U.S. Territory or Possession

By: Tom Andrews, CPA While many crewmembers are familiar with living as a bona fide resident in a foreign country not all crew members are familiar with the rules of living in U. S. Territories or Possessions. The IRS has issued a fact sheet to help taxpayers who move to or from a U.S. territory […]

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Foreign Earned Income Exclusion – Audits are Coming!

By: Tom Andrews Section 911 otherwise known as the Foreign Income Exclusion is probably the most commonly misunderstood and misapplied section of the Internal Revenue Code that is asserted by the yachting community in general. Basically the Foreign Income Exclusion or FEIE for the purposes of this article allows a qualified United States tax payer […]

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Are Job-Hunting Expenses Deductible?

ABSOLUTELY! And if you are a yachting professional the deductibility of your job hunting expenses can be very expensive. Unlike other mainstream professions where you might travel within a 50 mile radius of your home conducting interviews and meeting with perspective employers, a potential yacht crew member may be traveling half way across the globe […]

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Captains-Are You Responsible For Your Crews Taxes?

As a practitioner whose client base is 75% in the marine industry I’ve started noticing a phenomenon that may have far reaching consequences for captains and it is becoming more common! The scenario I am referring to can be summarized as follows: I’m meeting with a new client (usually they are incorporated) who happens to […]

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How Nonresident Alien Can Elect To File Jointly With U.S. Citizen Or Resident Spouse

Tax planning for an American married to a nonresident alien is always an interesting dilemma and it is very common in the yachting industry. Generally a joint return cannot be filed if either spouse is a nonresident alien at any time during the tax year. However, if one spouse is a citizen or resident of […]

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Captains Petty Cash May Not Be So Petty

Dockwalk Magazine. Written by Tom Andrews of AvMar Accounting Services Petty Cash is an important function of any yachts program, it also has been the cause of termination for many a captain. I’ve met many captains who feel they have a great relationship with their yachts owner, after all they have worked with them closely […]

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Non-Resident Aliens Temporarily in USA

Dockwalk Magazine. Written by Tom Andrews of AvMar Accounting Services One of the more enjoyable characteristics of the yachting industry is the ability to work and interact with individuals from all over the world. From an American owners standpoint the ability to hire and pay foreign crewmembers has some very unique challenges, most of these […]

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Will the IRS find out if I have an offshore account?

Dockwalk Magazine. Written by Tom Andrews of AvMar Accounting Services The answer is… Maybe!! So why take the chance. One of my goals when meeting with clients is to help clear up some of the misconceptions and rumors that make their way around the yachting industry. One of these misconceptions is the topic of “offshore […]

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Foreign Earned Income Exclusion

Dockwalk Magazine. Written by Tom Andrews of AvMar Accounting Services One common topic in the yachting industry is the subject of how yacht crewmembers are to be taxed on their services. Having met and consulted many crewmembers in my practice I am continually amazed by the amount of American crewmembers who feel they are eligible […]

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