Rental Real Estate Tax Implications

By Tom Andrews, CPA As the real estate market continues to rebound and interest rates remain historically low yachting professionals are continuing to invest in real estate.  Since traveling is a cornerstone of a yacht crewmembers  career,  becoming  a land lord is a...

Yacht Crewmembers Receiving Foreign Gifts

By Tom Andrews, CPA Now that Christmas is over the topic of foreign and nonresident gifts become a frequently discussed topic.  Many yacht crewmembers have friends, family, spouses etc. who are nonresidents living outside the United States.  These relationships...

The Mini Yacht Manager

by Tom Andrews, CPA The term “yacht management” has been used to describe a vast number of services in the industry, the large management companies tend to manage every aspect of the vessel including but not limited to MLC compliance, payroll, crew placement,...
AWL Grip Captains Golf Invitational

AWL Grip Captains Golf Invitational

by Lisa Marshall On Friday, October 17th, AvMar came out to support Yacht Captains at the AWL Grip Captains Golf Invitational.  Everyone had a blast in support of Yacht Aid Global, Save Our Seas and Marine Industry Cares. Here are some pictures from our Hole 11 ...

US Taxman Targets Yacht Owners

By Don Hoyt Gorman, (The Super-Yacht Owner Website) An American super-yacht owner and a number of his super-yacht owning friends have all received the same letter from the US Internal Revenue Service (IRS) informing them that their yachting affairs would be audited...

Form 8233 “Facts and Fiction”

by Tom Andrews, CPA Any nonresident crewmember that has worked on a foreign flagged vessel has probably been asked to sign form 8233 “Exemption Form Withholding on Compensation for Personal Services of a Nonresident Alien”.   By signing this form the vessel/employer...

AvMar begins withholding U.S. taxes from foreign crew

Originally Published in “The Triton” 09/27/2011. Ft. Lauderdale-based AvMar Payroll Services, one of the industry’s largest yacht crew payroll companies, has begun withholding U.S. income taxes from foreign crew while working on vessels in the United...

Individual Tax Liabilities of Yacht Crewmembers

by Tom Andrews, CPA The purpose of this memo is to discuss the American crewmembers responsibility when it comes to making quarterly estimated tax payments. In most cases crewmembers will be paid in the following manner: Crewmember issued W-2 with taxes withheld....

Identity Theft and How it Affects Yacht Crewmembers

By Tom Andrews, CPA For several years now I have noticed a substantial increase in the number clients that have been victims of identity theft. The identity theft I am referring to is not the type in which a perpetrator hijacks a person’s credit or bank accounts, it...