Power of Attorney
Business · Reinvent NY glossary
A Power of Attorney (POA) is a legal document authorizing another person (the 'agent' or 'attorney-in-fact') to act on your behalf in specified matters. For international entrepreneurs, POAs are commonly used for real estate closings (when the buyer cannot attend in person), business filings, bank transactions, and immigration document signing. Types include General POA (broad authority), Limited/Special POA (specific transactions), and Durable POA (remains valid if the principal becomes incapacitated). POAs should be notarized and may need apostille for international use.
Related Terms
Related Articles
- →The QBI Deduction: Who Gets It, Who Loses It
The 20% pass-through deduction phases out by income and profession. Below the threshold almost everyone qualifies; above it, the answer turns on your trade.
- →Where to Hold Business Cash in New York
Treasury bill interest is exempt from state and city tax. For a New York City resident, 3.8% on a T-bill beats a taxable deposit paying roughly 4.5%.
- →Vehicle and Equipment Write-Offs for Owners
Above 6,000 pounds gross vehicle weight the luxury auto caps fall away. The mileage or actual-expense choice is locked in the first year. What that means.
- →Credit Scores: What Business Owners Get Wrong
Your score is built from the statement balance, not what you owe after paying. Moving spend to a business card can lift it 50 to 100 points on its own.
Keep reading
Setting a company up in the US?
Talk to us about it