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What expense category do Trademark registration fees fall under?

 
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Best answer 10-15-2018

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Established Community Backer ***

It is not an expense. create an asset account and book th...

It is not an expense.

create an asset account and book the costs to that asset account, create a sub account for accumulated depreciation.

It is what the IRS calls a section 197 intangible, and it is depreciated over 15 years.  There are exceptions (there always are with the IRS) if this purchase of a trademark is associated with the purchase of a franchise.

Item 11
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Intangibles




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6 Comments
Established Community Backer ***

It is not an expense. create an asset account and book th...

It is not an expense.

create an asset account and book the costs to that asset account, create a sub account for accumulated depreciation.

It is what the IRS calls a section 197 intangible, and it is depreciated over 15 years.  There are exceptions (there always are with the IRS) if this purchase of a trademark is associated with the purchase of a franchise.

Item 11
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Intangibles




View solution in original post

Not applicable

What about a trademark search. I paid an attorney $250 to...

What about a trademark search. I paid an attorney $250 to do a comprehensive trademark search last week. If he finds no objections we will be filing for the trademark. My question is what account would I post the $250 trademark search under?
Established Community Backer ***

I would use legal expense

I would use legal expense
Community Contributor *

Are you saying in your first answer that the $225 TEAS Pl...

Are you saying in your first answer that the $225 TEAS Plus fee is an asset?  If not, what "Registration Fee" are you referring too?  Thanks
Not applicable

Re: I would use legal expense

How about the cost incurred such as the cost of power of attorney and its attestation to authorize third party for the trademark search? Will it fall under legal fees as well? Thanks

Not applicable

Re: I would use legal expense

How about the cost of power of attorney and its attestation to authorize third party for the trademark search? Will it fall under legal fees as well? Thanks

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