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Elim_Wei
Level 2

Attorney fee for patent application and trademark application

Hi all, does anybody know how to record the attorney fee for patent application? Is it an intangible asset or R&D expense or Legal fee?

 

And how about the attorney fee for trademark application?

 

Thanks!

3 Comments 3
Rustler
Level 15

Attorney fee for patent application and trademark application

All costs to apply for a patent are posted as an intangible asset (use fixed asset in QBO), including attorney and filing fees.

Elim_Wei
Level 2

Attorney fee for patent application and trademark application

Rustler, thank you! 

 

I also asked my friend who is an accountant. And He asked me about the amount. It is not too much. Then he suggested me record it as legal fee.

 

So I am curious that is there any relationship between the amount and accounts?

 

Thank you!

Rustler
Level 15

Attorney fee for patent application and trademark application

Not that I am aware of, nor do I see anything in the IRS Pubs

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