Facing increased competition for donor dollars and a growing charitable base, many tax-exempt organizations have set their sights on income diversification. As part of this quest for alternative revenue streams, non-profits are expanding into businesses traditionally dominated by taxable entities.  While this can be a boon to an organization’s resources, it can potentially subject tax-exempt entities to reporting and paying taxes, the most common of which is the tax on unrelated business income. 

In the United States, there is a divorce every 36 seconds—or about 876,000 per year. The average marriage lasts approximately eight years before a couple gets divorced. Most people who get divorced, however, do not know the tax consequences or ramifications.

Every year, more and more U.S. citizens renounce their citizenship, and green card holders give up their visa status. These actions trigger a tax problem: the exit tax.