@john-pero wrote:
All costs related to acquisition of an intangible (or tangible) asset are added to the basis of that asset. Even current legal fees plus everything you paid last year for failed registration are part of the asser right from the start, not an expense.
Now if this registration, and the next, fail then it would be apparent that someone else beat you to this mark and then you could write off the entire exercise
You lost me at "then." Are you saying the service mark registration fees are only valid as intangible assets if the service mark is approved? If it fails, then it would need to be removed from being an intangible asset and reclassified as a legal expense? Is this correct? Thanks for the help John! We're a new business and we're migrating our accounting from Freshbooks to Quickbooks online.
