Unrelated business income tax is a tax on all income earned from an unrelated business activity, minus tax deductions as a result of producing that income. An activity is unrelated business if it meets all three requirements: It is a trade or business.
Medical. Under Texas statutes, a medical power of attorney allows an agent or attorney-in-fact to make healthcare decisions on behalf of the principal, once the principal is declared incompetent by an attending physician.
POA & Guardianship. Medical and financial powers of attorney (POAs) should never be granted or accepted lightly. In more realistic terms, these âpowersâ are better thought of as responsibilities. As a loved oneâs POA, you will need to weigh the risks and the benefits of all financial and/or medical options in order to make decisions that affect their livelihood and health.