Watch Shaun White: Russia Calling: It is an Awesome 44 minute Documentary by NBC about Shaun White and his road to Sochi 2014. Two-time Olympic Gold Medalist Shaun White gives a rare, inside look into the challenges and sacrifices that are made in order to be the best in the world.
Although it may not seem like an R&E expense, the cost of obtaining a patent is also currently deductible under Section 174. This includes both attorney fees and patent filing fees. This is one of the largest expenses many independent inventors have.
If the company reports on the GAAP basis, then certain costs of developing the patent may be carried as an asset, along with the legal and filing costs associated with the patent. The cost of the asset is written off ratably (expensed) over the expected useful technological or economic life of the patent.