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Mary Kathryn Allen

Mary Kathryn Allen is a tax manager specialized in tax compliance for public and middle market clients as well as state and local tax compliance. She joined HORNE in 2011, bringing expertise in tax compliance, consulting and income tax accounting. She is a Certified Public Accountant in Mississippi, Alabama and Tennessee.
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Recent Posts

October 25, 2018

Tax Benefits of the Opportunity Zone Program

In the Tax Cuts and Jobs Act of 2017, Congress established an Opportunity Zones program to increase long-term investment in community development programs. Congress hoped by designating the low-income communities as qualified opportunity zones that capital would flow to the communities to develop property and expand business in these areas, which would reduce poverty and increase employment. There are roughly 8,700 opportunity zones throughout the United States.

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Topics: TCJA, Opportunity Zones

June 08, 2017

6 Myths About the R&D Credit That Cost Businesses at Tax Time

The Research & Development (R&D) Credit may be one of the most misunderstood and underused incentives in the federal tax code. There are a lot of myths about the credit that cause businesses to think that it doesn’t apply to them or that, if it does apply, the value is so limited that it doesn’t deliver a significant benefit. Here’s a look at a few of the misconceptions that have cost businesses millions in missed tax credits over the years.

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Topics: Tax Credits, R&D

November 03, 2016

Exporting Goods or Services? The IC-DISC Tax Incentive Could Save You Thousands of Tax Dollars

Are you a small- or medium-sized company that exports its USA-made products to foreign countries? If so, are you taking advantage of a tax incentive known as an "interest charge-domestic international sales company" or IC-DISC?

The use of an IC-DISC allows you to significantly increase your company’s after-tax income. For example, profits are taxed at the dividend rate, as opposed to ordinary income tax rates that currently top out at 35 percent.

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Topics: Tax Planning, IC-DISC

September 01, 2016

Struggling Communities Benefit from NMTC Program; Investors Benefit from Tax Credits

Last month, the City of Detroit demolished the 10,000th vacant home in Mayor Mike Duggan's massive plan to eliminate blight in the city. Detroit was hit hard by the recession of 2008 and the corresponding drop in residential property values. As home values declined, homeowners couldn’t afford their mortgage payments and went into foreclosure. Currently, Detroit lists almost 140,000 homes in the foreclosure process with more foreclosures on the way.

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Topics: NMTC, New Market Tax Credits