by Tom Andrews, CPA Job duties of both of luxury yacht captains and crew often extend beyond what ordinary mainstream employees encounter. Examples of these job duties include but are
Read More
by Tom Andrews, CPA Many yacht crewmembers have friends, family, spouses etc. whom are nonresidents living outside the United States. These relationships sometimes give rise to the transferring of assets
by Tom Andrews, CPA The career of a professional mariner sometimes affords opportunities and circumstances that the crewmember might not have planned on. The travel requirements of a mariner often
by Tom Andrews, CPA While we regularly focus on federal income taxes it is important to keep in mind that SALT can have just as much of an impact on
by Tom Andrews, CPA Crewmembers that spend a majority of their time in a foreign country or the territorial waters of a foreign country are often interested in the FEIE
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
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