Alabama Patent of the Month – March 2023
Fishing is a popular pastime that can be enjoyed by people of all ages and backgrounds. However, it is important to remember that fishing laws and regulations are in place to protect natural resources and ensure that fish populations remain healthy for future generations to enjoy. Unfortunately, keeping up with these regulations can be difficult, especially since they differ greatly from state to state and even from body of water to body of water within the same state.
This is where Fishing Chaos, Inc comes in. Fishing Chaos is an innovative platform that uses patented technology to make it easier for anglers to stay up to date with fishing regulations and share information with other fishermen, biologists, and legislators. The platform allows anglers to log their catches, including photos, videos, and geolocation data. This information is then compiled and used to track fish populations and make better recommendations for managing wildlife sports.
One of the main benefits of Fishing Chaos is that it simplifies the process of tracking fishing regulations. Anglers can quickly and easily check the regulations for their area and ensure that they follow the rules. This not only protects fish populations but also helps to prevent fines and legal trouble for anglers who inadvertently break the rules.
Another benefit of Fishing Chaos is that it allows anglers to connect with one another and share information. This can be particularly helpful for novice anglers who are just starting out and may need advice or tips from more experienced fishermen. By sharing information, anglers can help to improve their own fishing skills and contribute to the overall health of fish populations.
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.
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.
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/
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