By Tom Andrews, CPA Anyone that has been working in the yachting industry for more than ten years has probably noticed that the days of receiving foreign wire transfers
Read More
by: Tom Andrews, CPA Many yachting professionals operating as independent contractors have formed an LLC or S Corporation to conduct business. There are a variety of reasons why doing business
By Tom Andrews, CPA Tax season often stirs mixed emotions in us all. Some anticipate refunds while others dread the laborious process of collecting receipts and filing returns. Amidst
by Tom Andrews, CPA Now that we are well into 2023 taxpayers are looking forward to implementing new financial goals. One of those goals is to start contributing to
By Tom Andrews, CPA Tax compliance can be a complex and time-consuming process for both yacht crewmembers and their accountants. Fortunately, there is a valuable tool that can streamline
By Tom Andrews, CPA Most nonresident crewmembers working in the United States or US territorial waters have an income tax filing requirement the United States. While they might not
By Tom Andrews, CPA When preparing tax returns for clients of the yachting industry I often run into situations when there is an American married to a Non-Resident alien.
by Tom Andrews, CPA As mortgage interest rates have increased crewmembers looking to purchase homes have made larger down payments. This can be particularly complicated when the purchaser has
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 regarding the FEIE is
by Tom Andrews, CPA While many yacht crewmembers have stayed in a crew house from time to time the prospect of owning a home has always been an attractive investment