South Dakota Patent of the Month – October 2022
One of the limiting factors to the growth of crypto trading is the hoops that you need to jump through. From requiring special online wallets to complex conversions, crypto was largely left to those with higher knowledge-levels on the subject. Coin Lion, LLC (CoinLion) has set out to make crypto trading simple, bringing a user intuitiveness that did not previously exist.
Formed in 2017, the company has been working towards a secure, U.S.-based exchange platform with automatic trading capabilities. This is no easy feat, requiring a complex infrastructure to support both the trading aspect and the community of experts and newcomers. With such an undertaking, much of the development has led to proprietary technologies. In fact, the company has recently been granted a patent for their proprietary communications system.
CoinLion’s communication system allows for the communications of a single user to be copied across multiple other users. Duplicating these communications allows for the same actions (e.g. buy, sell, hold, etc.) to be performed on numerous accounts. CoinLion has developed this unique communication strategy to support their unique functionality: users can copy best-performing crypto traders.
A user could subscribe to other traders on the platform and the system will automatically make trades based on their trading strategies. The copy capabilities of their communication system make this process rapid and painless, with minimal overhead on the system. Between their CopyCat Marketplace and the ever-advancing technology, CoinLion is well on their way to making crypto trading an every-man’s game.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
Are you eligible?
Why choose us?
Pass an Audit?
What is the R&D Tax Credit?
The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
Never miss a deadline again
Stay up to date on IRS processes
Discover R&D in your industry
R&D Tax Credit Preparation Services
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/
Choose your state
