Turnaround depends on complete documents, IRS systems, and return complexity.
Only 43 more Crew Tax Return slots available for 2026
As of October 28th 2025
Our Services
Introduction Session
Get Started for only $99
Best for: Yacht crew who want ongoing support, smooth year-end filing, and protection from IRS underpayment penalties.
What’s Included:
✔ IRS Transcripts Pull
✔ Access to out Secure Client Portal
✔ 30-min private call
✔ 2025 Personalized income + tax review
✔ 2026 quarterly plan to track, save & file stress-free
Crew Pro Schedule C Package
Best for: Independent contractors and yacht crew with 1099 income or side businesses.
What’s included:
✔ Federal Form 1040 with Schedule C (self-employment income)
✔ Business expense deductions (travel, uniforms, certifications, crew gear, training)
✔ Self-employment tax calculation & optimization
✔ Quarterly estimated tax payment setup so you’re never caught off guard
✔ Option to add bookkeeping cleanup (for an additional fee)
Trusted by Crew and Companies Across the Yachting Industry
MFS × Wise
Low-Cost Global Payments & Multi-Currency Accounts
McGregor Financial Services (MFS) provides specialized tax preparation services for yacht crew, marine businesses, and owners. Whether you need help filing a 1040 form, 1099 form, 1099-NEC, or W-2/W-9 tax form, our team simplifies the process of efile tax returns, income tax planning, and payroll tax management.
Clients searching for a “tax preparer near me,” “CPA near me,” or “tax services near me” rely on MFS for accurate filing, compliance with the Internal Revenue Service (IRS), and guidance on everything from capital gains tax, inheritance tax, and property tax to self-employment tax and small business accounting.
We support marine professionals and small businesses with paycheck calculators, payroll calculators, sales tax calculators, federal income tax calculators, and refund tracking tools, ensuring that tax season is stress-free. Whether you’re dealing with an amended tax return, franchise tax board notices, excise tax, estate tax, or federal withholding tax, our advisors deliver clarity and compliance every step of the way.
“ MFS was founded to reintroduce practicality to accounting in the Marine Industry, despite the overwhelming presence of technology.
We believe in maintaining the highest standards of integrity while offering personalized, reliable financial solutions that truly serve our clients' needs, ensuring they can navigate their financial futures with clarity and peace of mind.”
Founder | Chief Financial Officer | Enrolled Agent
Our Values
Featured Blogs
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![Two women sitting at a table engaged in a discussion, one is reading from a piece of paper and the other is holding a cup of coffee.]()
How Financial Anxiety Impacts Mental Health Onboard: A Crew Member's Story
Behind the polished crew uniforms and picturesque ports, many yachties silently struggle with financial stress and emotional burnout. This blog explores the real-life challenges behind the lifestyle, and how financial awareness, therapy, and community support can lead to lasting change.
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![Several large luxury yachts docked at a marina with a construction site and cranes in the background, under a clear blue sky.]()
A Financial Readiness Guide for Boat Repair Shops, Dealerships, and Marine Service Providers
Many marine businesses are denied financing not due to poor performance, but poor financial reporting. Learn why lenders say no—and how better bookkeeping, clear tax filings, and industry-specific insight can turn it into a yes.
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![A young man and woman in white shirts stand on a boat, looking out at a marina with boats and lighthouse in the background.]()
Top Tax Deductions For Yacht Crew Members
Yacht crew often spend heavily on work-related costs—but many of these expenses are tax-deductible. Discover the top deductions that could lower your taxable income and boost your refund.
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The Advantage of Structuring Your Yacht Brokerage as a Business for Tax Efficiency
Many yacht sales brokers operate as sole proprietors, missing out on key tax savings and legal protections. Learn how forming an LLC or S Corp can boost your income, reduce liability, and offer more freedom—all while staying connected to major brokerage firms.
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![A folder with the words 'One Big Beautiful Bill' on it, placed on an American flag.]()
The One Big Beautiful Bill That Could Save Yacht Crew Thousands—If You Start Your Taxes Early
The U.S. tax system just got a major overhaul with the passing of the One Big Beautiful Bill on July 4, 2025—bringing new benefits for working-class professionals like yacht crew. But these tax breaks only pay off if you plan ahead. In this post, we break down two common financial paths crew take—and how each decision can impact your future under the new law.
FAQs
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Yes. U.S. citizens and green card holders are taxed on worldwide income, even if they earn wages outside the United States. Yacht crew can often reduce or eliminate their tax liability through the Foreign Earned Income Exclusion (FEIE) if they qualify, but you must still file a U.S. tax return (Form 1040 or 1040NR). At McGregor Financial Services, we help yacht crew determine eligibility and optimize their filings.
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Yacht crew tax obligations vary by employment type:
W-2 Employees file a standard Form 1040.
1099 Contractors file Form 1040 with Schedule C to report self-employment income and deductions.
Nonresident Aliens working in the U.S. usually file Form 1040NR.
MFS specializes in helping yacht crew navigate all three situations with accuracy and compliance.
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Yes. 1099 independent contractors can deduct yacht crew-specific expenses such as:
Travel between assignments
Training and certification costs
Required uniforms or safety gear
Crew-related equipment and supplies
MFS ensures your deductions are maximized while remaining IRS-compliant.
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If you are self-employed or receive 1099 income, the IRS requires quarterly estimated tax payments. Missing these payments may result in penalties and interest at year-end. Our Quarterly Crew Service helps yacht crew stay ahead with timely filings, expense tracking, and cash-flow planning.
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Many yacht crew work in multiple states or countries throughout the year. MFS provides:
Multi-state residency planning to reduce tax exposure
Foreign Earned Income Exclusion (FEIE) optimization
FBAR and FATCA reporting for offshore bank accounts
Seamless integration into annual 1040 or 1040NR filing
We specialize in keeping yacht crew compliant, no matter where they work.
