Communication Instructions for Reaching Patent Attorney Ventre

The Law Firm of

Louis Ventre, Jr.

Registered Patent Attorney

DEDUCTIBILITY OF PATENT ATTORNEY COSTS

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PATENT COSTS AND THE TAX CODE

patent%20attorney%20star Deductibility as Research and Development Costs.  If you are engaged in a trade or business, then the costs you incur for attorney fees to obtain a patent may be deductible in the year they are incurred if the taxpayer adopts the method allowing such deductions. Consult your accountant to see if you can qualify.

patent%20attorney%20star IRS Regulations.  Attorneys' fees expended in making and perfecting a patent application may be deductible as "research or experimental expenditures" under section 174 of the Internal Revenue Code, according to IRS regulation 26 CFR 1.174-2.   More specifically, IRS 26 CFR 1.74-1 permits research and development expenditures, which include attorney fee expenditures, to be treated under IRS regulation 26 CFR 1.174-3 as expenses not chargeable to a capital account and deducted in the year in which they are paid or incurred, or, at the option of the taxpayer, they may be deferred as per IRS regulation 26 CFR 1.174-4 and amortized.



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