by Tom Andrews, CPA As a crewmember on a foreign flagged vessel you are probably being paid in one of three ways: You are issued a W-2 with taxes
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by Tom Andrews, CPA Every US taxpayer is subject to the federal level of tax reporting there is also the matter of state income tax. Currently there are nine states
by Tom Andrews, CPA Now that 2021 has ended it is important for crewmembers to have an understanding as to how the vessel views the services you provide. All too
by Tom Andrews, CPA A sensitive topic in the luxury yachting industry is the withholding of United States federal income tax from the salary of a nonresident crewmember. There are
(the term every nonresident crewmember should be familiar with) By Tom Andrews, CPA Internal Revenue Service audits of nonresident crewmembers are rare however I recently consulted on an audit in
By Tom Andrews, CPA Starting in July, taxpayers with children may have noticed a deposit from the Internal Revenue Service to their bank account. These deposits may vary between taxpayers
By Tom Andrews, CPA Prior to 2018 unreimbursed business related travel expenses might have been a tax deduction for both employees and self employed yacht crewmembers. Under current tax law
By Tom Andrews, CPA Several years ago I wrote a column that explored an interested development in IRS audit techniques. As technology has improved the IRS began researching the social
By Tom Andrews, CPA It is not uncommon for luxury yacht crewmembers to stay in temporary housing while traveling. Sometimes these stays are mandated by the owner or the crewmember
By Tom Andrews, CPA The FEIE (foreign earned income exclusion) is so frequently asked about I write an update column every year. The most common misconception about the FEIE is