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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.
Copyright No. 2 for $19,200 should be capitalized. Because the useful life is indefinite, copyright No. 2 should be tested at least annually for impairment using a fair value test. It would be reflected on the December 31, 2007 balance sheet at its cost of $19,200.he $190,000 should be expensed as research and development expense in 2006. The $91,000 is expensed as selling and promotion expense in 2006. The $45,000 of costs to legally obtain the patent should be capitalized and amortized over the useful or legal life of the patent, whichever is shorter.