R&D Credit Consulting
Finding ways to reduce costs and expenses while driving sales, profitability and growth is essential to success in business. Companies in Richmond and across Virginia navigate the success formula differently by adjusting operations, production, vendor contracts, and pricing strategies. Others focus on product variation, new product development, relationship management, and marketing programs. While useful, many are surprised to learn about the saving potential available through federal tax incentives including the Research & Development (R&D) tax credit. The credit is designed to incentivize innovation projects and provide a financial incentive to undertake such efforts. It features dollar-for-dollar savings against current year taxes and has both a carryforward and carryback feature. Despite its amazing potential, many businesses do not attempt to claim the credit because of various misconceptions about who can apply, qualifying activities, and restrictions.
Virginia R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Richmond and across Virginia. We work with companies in several industries including agriculture, architecture, chemical, engineering, construction, electrical/mechanical contracting, life sciences, medical device, and technology. In many cases companies outside these industries also qualify for the credit as well, but it depends on the circumstances of the project.
Our team has years of experience identifying qualifying activities, reviewing expenses, and determining project eligibility. We turnkey the entire process from initial documentation to preparing the IRS submission to claim the credit. This includes an organizational review, background research, compilation of key reports and supporting documents, related interviews, and documentation preparation. From start to finish, our team stands ready to help you claim this significant tax-saving opportunity.
R&D Tax Credit Myths
Map of Richmond (VA) – 23219
About Richmond (VA)
Richmond, Virginia, is a city with a diverse and dynamic business community, characterized by its strong roots in finance, law, and government-related industries. The city is home to numerous Fortune 500 companies, reflecting its role as a regional hub for commerce. Financial services play a significant role, with large firms like Capital One having a major presence in the area. Richmond’s legal sector is also prominent, benefiting from the city’s status as the state capital, which brings a concentration of law firms and government-related enterprises. Additionally, the city has seen growth in the tech sector, with a burgeoning startup scene supported by local accelerators and incubators. Healthcare and education are other key pillars, with major institutions like Virginia Commonwealth University (VCU) contributing significantly to the local economy. The downtown area, particularly, has experienced revitalization, attracting new businesses, restaurants, and cultural venues, further enhancing Richmond’s appeal as a vibrant place to live and work. The area codes for Richmond (VA) are 804 and 686.
Contact Our Richmond R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Richmond and across Virginia. Complete the form below and a member of our team will follow up with you shortly.
National Reach
JLK Rosenberger provides R&D tax credit consulting services to companies in Atlanta (GA), Boise (ID), Boston (MA), Charleston (SC), Chicago (IL), Dallas (TX), Denver (CO), Des Moines (IA), Detroit (MI), Indianapolis (IN), Las Vegas (NV), Lexington (KY), Los Angeles (CA), Miami (FL), Milwaukee (WI), Minneapolis (MN), Nashville (TN), New York (NY), Philadelphia (PA), Portland (OR), San Francisco (CA), Seattle (WA), and St. Louis (MO).