Blog

News, tips, and resources to help with the business end of your vacation lifestyle.

Substantial Presence Test

(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 which a nonresident crewmember was found to have been liable for United...

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Advance Child Tax Credit

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 depending on their income and the number of children they have.  These Advance...

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Travel Expenses

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 only “self employed” crewmembers may deduct travel related expenses against...

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Social Media and Your Taxes

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 the social media accounts of tax payers.  The IRS insists that it is only using...

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Is the Crewhouse Deductible

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 is in between jobs and needs crew house until the next job begins.  Many crewmembers...

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2021 Foreign Earned Income Exclusion Update

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 that if an American lives outside the United States for more than 183 days they...

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Dual Citizenship

By Tom Andrews, CPA As you may or may not be aware all US citizens are subject to US income tax regardless of whether they reside in the United States or not.  To make matters more complicated some yacht crewmembers have dual US citizenship with another country. ...

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Owning A Crewhouse

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 opportunity to crew and as an accountant I am frequently asked to prepare taxes and bookkeeping local...

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Taxpayer Identification Number for Nonresidents

By Tom Andrews, CPA As COVID-19 continues to disrupt the cruising plans for luxury yachts and their crewmembers there have been unintended consequences for vessels that remain in the United States longer than planned.  One of these consequences is that some...

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COVID Effect on Tax Treaties

By; Tom Andrews, CPA One of the unintended consequences of the COVID 19 global pandemic is that nonresident crewmembers may end up staying inside the United States longer than expected.  In some instances that nonresident crewmember may end up triggering a United...

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