R&D Tax Credits for Richmond, Virginia Businesses

Richmond, Virginia, thrives in industries such as finance, healthcare, education, manufacturing, and technology. Top companies in the city include Capital One, a leading finance company; VCU Health System, a major healthcare provider; Virginia Commonwealth University, a significant educational institution; Altria Group, a key player in the manufacturing sector; and CarMax, a prominent technology company. The R&D Tax Credit can provide tax savings for these industries by incentivizing innovation and technological advancements.

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Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed’s office location at 919 East Main Street, Richmond, Virginia provides R&D tax credit consulting and advisory services to Richmond and the surrounding areas such as: Tuckahoe, Mechanicsville, Petersburg, Short Pump and Chester.

If you have any questions or need further assistance, please call or email our local Virginia Partner on (804) 773-3219.
Feel free to book a quick teleconference with one of our Virginia R&D tax credit specialists at a time that is convenient for you. Click here for more information about R&D tax credit management and implementation.



Richmond, Virginia Patent of the Year – 2024/2025

Babylon Micro-Farms Inc. has been awarded the 2024/2025 Patent of the Year for its innovation in automated indoor agriculture. Their invention, detailed in U.S. Patent No. 11930746, titled ‘Automated hydroponic growing appliance’, introduces a plug-and-play system that simplifies hydroponic farming through intelligent automation.

This appliance integrates essential components for hydroponic cultivation, including a growing area, processor, mixing chamber, and multiple reservoirs. It employs a feedback loop to monitor and adjust environmental factors such as temperature, humidity, carbon dioxide levels, pH, and nutrient concentration. The system’s design allows users to grow various crops simultaneously with minimal maintenance, making it accessible to individuals without prior farming experience.

By automating the regulation of optimal growing conditions, the appliance ensures consistent and efficient plant growth. Its modular structure supports the stratification of crops, enabling the cultivation of different plant types within the same system. This innovation addresses the challenges of urban farming and food accessibility by providing a scalable solution for fresh produce cultivation in diverse environments.

Babylon Micro-Farms’ development represents a significant advancement in sustainable agriculture, offering a user-friendly approach to indoor farming that can contribute to food security and environmental conservation.


R&D Tax Credit Training for VA CPAs

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Virginia Office 

Swanson Reed | Specialist R&D Tax Advisors
919 East Main Street
Richmond, VA 23219

 

Phone: (804) 773-3219