Blog

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...

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 withheld. You are working as a “contractor and receive a 1099 at the end of the year. The employer is simply depositing...

by: Tom Andrews, CPA This goes without saying but the term Yacht Captain is probably the most understated job title in the luxury yacht industry.  The profession is so much more involved than taking the vessel from one destination to another.  Many captains are hired...

by: Tom Andrews, CPA More than 2 million ITIN’s (Individual Taxpayer Identification Numbers ) are due to expire by the end of 2018.  The expiration of the ITIN’s was prompted by legislation passed in Congress during tax year 2015. The law states that ITIN’s that have...

By Tom Andrews, CPA The FEIE (foreign earned income exclusion) is more timely than ever for tax year 2020. The Covid 19 pandemic has extended the period of time that some crewmembers have spent outside of the United States as travel restrictions and quarantines are...

By Tom Andrews, CPA This goes without saying but the term Yacht Captain is probably the most understated job title in the luxury yacht industry.  The profession is so much more involved than taking the vessel from one destination to another.  Many captains are hired...

By Tom Andrews, CPA Nonresident crewmember that have worked on a foreign flagged vessel have probably been asked to sign form 8233 “Exemption Form Withholding on Compensation for Personal Services of a Nonresident Alien”.   By properly executing  this form the...

by Tom Andrews, CPA When a nonresident crewmember is employed on a foreign flagged vessel the employer may be required to withhold federal income taxes from the nonresident while the crewmember is present in United States Territorial waters.  The employer may be...

by Tom Andrews, CPA Over the past six months our office has been  busy assisting clients who are either applying for a new home loan or refinancing their current home.  As real estate prices have increased  and it now appears  interest rates start decreasing again...

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 result in a nomadic lifestyle in which the crewmember lives overseas,...