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We Are The Merchant Marine Specialists
Complete Federal/State Itemized Tax Returns for Merchant Mariners starting at $449!
As a Merchant Mariner your industry offers you many unique opportunities. First and foremost by being issued Certificates of Discharges or Letters of Service Time; you qualify as a "temporary employee". This allows you to deduct travel expenses, including expenses to meet the ship; expenses incurred while in various ports, telephone expenses, and INCIDENTAL expenses. We need to foreworn you, you are not allowed to deduct MEAL expenses while on board the vessel. We caution you on this because there are numerous tax preparers out there that state they are 'transportation industry specialists' who continue to write-off the full M&IE rate (meals and incidental) for each day you are onboard. This is not valid, and could result in fraud penalties and an IRS nightmare for you the taxpayer who ultimately signs the return acknowledging that you reviewed for any omissions or MISSTATEMENTS. As we've said in the past, and will continue to state, we love getting new clients, we just don't enjoy getting them as a result of an IRS inquisition or audit.
Federal and State Extension
Our commitment to you; we will file both federal and state extensions on behalf of all our clients that we do not hear from by March 31st. There is no need to contact us, but feel free to do so if you want assurance that an extension will be filed on your behalf. File copies of your extension request will be mailed to you when we mail back your completed return.
Please note: An extension of time is granted only to file your Federal and State return. There is no extension of time to pay tax due, if applicable. Penalties and interest are imposed whenever tax is paid after the original due date. We enclosed state estimates with your 2008 tax return, so as long as those were paid in a timely fashion there should be no penalties assessed. However, should there be penalties or interest imposed, we can only provide you with a 'format' letter; it is up to you to address the issue with the proper taxing authority.
Shipmates that need extensions
There is no fee for us to file extensions, if you have shipmates that require extensions, please do not hesitate to direct them to our website. If they click on the link below they can remit the information page to us via email or fax and we will file both a federal and state extension on their behalf. We understand that taking care of tax issues when you are hundreds or thousands of miles away from home can create an unnecessary burden. If you would prefer to file out extensions yourself, see our "LINKS" page for links to federal and state taxing authorities.
OUR CORE SERVICES
SCHEDULE A LINE 21 DEDUCTIONS & MERCHANT MARINER TAX RETURNS
Our core competency! The maritime industry is a "niche" market as it pertains to tax preparation and advisement. Here at Transport Workers Tax Service, we can assure you that we will prepare your taxes and maximize your itemized deductions to the full extent allowed by law and will be fully substantiated by IRS Publications, Revenue Procedures, and Tax Court Rulings.
If you prepare your own return or have a relationship with a local accountant, we can still prepare your Schedule A Line 21 deductions and significantly reduce your tax liability.
There are numerous complexities as it pertains to your industry. Below I have listed a few, but it highlights the importance of utilizing a preparer that specializes in your industry:
1) Maritime Industry Knowledge and Experience
2) Multiple State Unemployment issues
3) Versed in Lawful and Allowable deductions
4) Finds Overlooked Items or Deductions
5) Dispels Rumors of illegitimate deductions
6) Accurately Calculates your Per Diem deductions
7) Substantiates your deductions
8) Audit and Compliance Knowledge
9) Educational expenses/License Renewal Requirements
10) Employer Reimbursements included in W-2 Income
11) Job Search Expenses
12) California Franchise Tax Board issues
13) State Unemployment issues
14) State residency issues/Multiple state returns
15) Alternative Minimum Tax
16) Timing of vacation pay
17) Voyage pay-off issues
18) US Code - Title 46
19) NCL/Hawaii State Tax Issues
We understand fully that today's economic climate only serves to underscore the prudence
of attaining the highest possible value for expenditures on accounting and other
services. Recognize value added services should remain immune from cost cutting
measures. Our promise has always been that if we do not find that we are a value
added service provider we contact you and give you the option of e-filing your
return at a reduced rate or returning your information to you at no charge.
AUDIT/COMPLIANCE SERVICES
We are well aware that many mariners felt the brunt of the so called
"marinerS tax" deductions. If you are called for an audit and want
assistance, please do not hesitate to contact us.
Many of our returns were pulled as a result of our clients being previous clients
of a California tax preparer, and to date not a single change has been
made by the IRS to any of the TWTS prepared returns. We recognize that it is
imperative that we be well versed in the lawful and allowable deductions mariners
are entitled to and it has ALWAYS been our position to stay compliant within the
IRS guidelines.
We have been extremely proactive over the past ten years pointing out that the so
called "mariner tax" deductions were invalid. If even after remitting your amended
return you are still called for an audit and want us to represent you in a phone
audit or correct your return to only include VALID deductions, contact us. Since
all deductions will be initially thrown out it will be up to you as the taxpayer
to substantiate any legitimate deductions. In many cases we have found the
invalid deductions only understated your tax liability by a couple of hundred
of dollars, certainly not enough to place a client at audit risk. Hence
TWTS's position to always stay within IRS guidelines.
E-File your Return for Efficiency and Convenience!
We do suggest that everyone sign up for Electronic Federal Tax Payment System (EFTPS).
What is EFTPS? EFTPS is the Electronic Federal Tax Payment System developed by the U.S. Department of the Treasury's Internal Revenue Service (IRS) and Financial Management Service (FMS) to enable taxpayers to pay their Federal taxes electronically online or over the phone. It's convenient, secure, and a timesaver.
Only EFTPS allows you to pay your federal tax liability on line without a service charge, however it takes TWO WEEKS to get a PIN number issued. The other alternative www.officialpayments.com could cost you an additional ±$300 in fees.
Click HERE to download the 2009 Tax Organizer.
Helping Mariners Transition to Shore-Side Retirement
Mark E. Engberg, CFP® is a CERTIFIED FINANCIAL PLANNER™ professional as well as a Registered
Representative and Investment Advisor Representative. He is also a retired Chief Engineer
from D1-MEBA. Bruce Robson, CFP® is a CERTIFIED FINANCIAL PLANNER™ professional who has 25
years experience in the investment / financial services field. Bruce has two immediate family
members who are active merchant marine officers. Mark & Bruce have many Maritime Industry
clients and work closely with this group to service their unique financial planning, tax
planning, and investment needs. You can visit their website at www.cfs-retirement.com
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