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Taxes

Power of attorney

A power of attorney is a legal document that designates one person as the agent or attorney-in-fact, to act on behalf of another individual, known as the principal. This authorization grants the agent the power to carry out specific tasks or make decisions on behalf of the principal. This instrument is crucial in delegating authority and is often used in finance to facilitate transactions and manage assets.

Use tax

In the realm of finance, we often come across the term "use tax." This refers to a tax imposed on goods that are used within a certain jurisdiction, even if they were purcha...

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Current assets

In the realm of finance, we often come across terms such as cash, accounts receivable, inventory, and other assets. These are assets that hold the potential to be converted ...

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Income splitting

A key concept in finance is the utilization of arrangements where income, that would have been subjected to a higher tax rate if received by the original earner, is instead ...

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Fraud

As a financial expert, it is crucial to understand the concept of tax fraud. It refers to the intentional act of evading taxes and is considered a serious offense under crim...

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