Yacht Crew Travel Expenses

by: Tom Andrews, CPA A career as a professional yacht crewmember and travel expenses go hand in hand, while many crewmembers work for vessels that pay for all travel expenses I have encountered more and more crew over the past five years (mainly due to the recession...

Nonresident Crewmember Tax Treaty Memo 2014

  Form 8233 in the previous tax year, please be advised that if you will be qualifying for tax treaty benefits for the current year you will be required to provide a signed updated form 8233. As a nonresident crewmember on board a foreign flagged luxury vessel our...

Foreign Bank Account Compliance for Yacht Crewmembers

by Tom Andrews, CPA Foreign bank account compliance is making headlines again.  For those yacht crewmembers who are still not familiar with FBAR requirements (Foreign Bank Account Reporting) the Treasury department requires that a United States Citizen or Tax Resident...