Do yacht crew members have to pay U.S. taxes if they work overseas?

Yes. U.S. citizens and green card holders are taxed on worldwide income, even if they earn wages outside the United States. Yacht crew may qualify for the Foreign Earned Income Exclusion (FEIE), but must still file a U.S. tax return. McGregor Financial Services helps yacht crew determine eligibility and optimize their filings.

What tax forms do yacht crew members usually file?

It depends on employment type. W-2 employees typically file 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. McGregor Financial Services specializes in all three.

Can yacht crew deduct travel and work-related expenses?

Yes. 1099 independent contractors can deduct yacht crew-specific expenses such as travel between assignments, training, certification costs, uniforms, safety gear, and crew-related equipment. McGregor Financial Services ensures deductions are maximized while remaining IRS-compliant.

What happens if yacht crew don’t pay quarterly estimated taxes?

The IRS requires quarterly estimated tax payments for self-employed individuals or those with 1099 income. Missing payments can result in penalties and interest. McGregor Financial Services offers Quarterly Crew Services to keep filings on time and accurate.

Why should yacht crew use a specialized marine tax accountant instead of a general CPA?

Marine professionals face unique challenges: fluctuating contracts, offshore income, and multi-jurisdiction compliance. A general CPA may miss deductions or misapply residency rules. McGregor Financial Services, based in Fort Lauderdale, specializes in yacht crew taxation and marine accounting.

2nd Officer in Italy

Mar 11

Written By Justin Boodram

Summary

A 57m Charter Motor Yacht is looking for a temporary Second Officer.

The ideal candidate will hold their STCW, ENG1, B1/2 and their OOW 3000.

You must have held a similar position and must be capable of running a deck team, driving large tenders and standing a navigational watch.

The salary is between 5500-6000 euro per month DOE.

The temporary contract will be for approximately 3 months from early October to early January.

The start location will be in Italy for a 1 month yard period before crossing to the Caribbean to commence the charter season.

Candidates who apply via the YOA website have a greater chance of being put forward.

Languages

English / Fluent

Visas

B1/B2

Essential Qualifications

Entry Level Qualifications (or equivalent)

STCW 95 (STCW 2010)
ENG 1 (Medical Certificate)

Master/Skipper Qualifications (or Merchant, USCG & AMSA equivalent)

MCA CoC Officer of the Watch <3000gt

Justin Boodram