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  • A more permissive approach? — New patent test issued for computer-based inventions

    Year End 2012
    Newsletter: Ideas on Intellectual Property Law

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: In the eyes of some, an early 2012 Supreme Court decision seemed to make it harder for the holders of business-method patents to overcome challenges asserting that their inventions are unpatentable abstract ideas. But the U.S. Court of Appeals for the Federal Circuit, in a recent case, appears to indicate a more permissive approach in favor of patentability. This article examines the case, which discusses the question of what constitutes an unpatentable “abstract idea.” But a sidebar looks at a case immediately following in which the Federal Circuit ruled differently. Citations: Mayo Collaborative Svcs. v. Prometheus Laboratories, Inc., No. 10-1150, March 20, 2012 (Supreme Court); CLS Bank Int’l v. Alice Corp. Party Ltd., No. 2011-1301, July 9, 2012 (Fed. Cir.); Bancorp Svcs., LLC v. Sun Life Assurance Co. of Canada, No. 2011-1467, July 26, 2012 (Fed. Cir.)

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  • Considering an ILIT? Now’s the time

    October / November 2012
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: Life insurance proceeds generally are income-tax-free to beneficiaries, but may be subject to estate taxes. One of the best ways to keep life insurance out of one’s taxable estate is to place the policy in an irrevocable life insurance trust (ILIT). But those who are thinking about setting up an ILIT for an existing policy should consider doing so before the end of the year to take advantage of the record-high gift tax exemption. This article looks at the benefits of an ILIT, and shows how to deal with some significant limitations. A sidebar explains how a recent IRS ruling makes ILITs more attractive by permitting a grantor to build additional flexibility into the trust.

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  • Mining the generation gap — Estate planning strategies for you and your parents

    September / October 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: Shifting income to family members in lower tax brackets can be a powerful tax-reduction strategy that applies not only to children, but to parents as well. As this article explains, under some circumstances it can be beneficial to transfer appreciated, income-producing assets to parents with the understanding that they’ll be returned upon the parents’ deaths. Another is to have them convert or roll over traditional IRA or qualified retirement plan balances into a Roth IRA. A sidebar discusses the expansion of the “kiddie tax.”

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  • Vacation homes provide tax planning opportunities, pitfalls

    May / June 2008
    Newsletter: Tax Impact

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: If you own a vacation home, it pays to consider the tax implications, especially if you plan to use the home for both personal enjoyment and rental income. In some cases, minor adjustments in the way you use the home can reduce your tax bill. This article reviews the differences between residence and rental classification of a vacation home, and the tax implications.

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