Welcome to Ingram & Associates Tax Firm
Individual / Business / Corporate Tax Returns
Professional Bookkeeping and Payroll Services
Voted #1 Tax Preparers in 2019 & 2020
Voted #1 Bookkeeping Co. in 2021 & 2022
Readers Choice #BestofSumter.
Make your appointment with the Best!
Guaranteed, Dependable, Year-round Service
Where we care about our clients and offer reasonable rates
Hours of operation beginning February 1st - April 15th:
Monday-Friday: 10am to 7:00pm
Saturday: 10am to 3:00pm
Sunday: 1:00pm to 7:00pm
New Hours of operation after Tax Season:
Monday - Thursday: 10am - 5:30pm
This team of professionals can handle all your Individual and Business needs! Make your appointment now. Please call if you have any questions. We will be glad to assist you in any way possible.
We accept VISA, Mastercard, Discover, American Express, Paypal & Venmo along with personal checks and cash.
MEET THE TEAM
Charles C. Ingram "Buck"
It is with a sad heart that we inform you that Mr. Ingram passed away in March 2021. He started Ingram & Associates in 1966 while he was also employed by the US Postal Service. He has grown the business to 4000+ clients and I&A has a 99% accuracy rating. Coming from a "country" background, Buck enjoyed helping people get the most out of every dollar they can on their Individual and/or Business tax returns. He has left the business to his son, Chris, who is the current owner & manager.
Christopher D. Ingram
Chris has been working with his dad for over 15 years and is now the owner/manager of I&A. He strives to give his clients the best tax advice possible. You can count on Chris and his valuable experience as an IRS Registered Tax Preparer to get you the most money back on your Individual or Business return.
Jim L. Lamb
Former Tax Preparer
Unfortunately, Mr. Lamb passed away in September 2018 and will truly be missed by all! We request that you please make your appointment with Chris or Beth to take care of your tax and business needs. This team is dedicated to serve you!
Susan E. "Beth" Huggins
Bookkeeper/Tax Preparer/Notary Public
Beth received a BS degree in Business Administration, with emphasis in Finance, from USC-Aiken. She has 30+ years of Accounting experience and joined I&A in Jan. 2017 as Bookkeeper and an IRS Registered Tax Preparer. She is currently taking new bookkeeping clients as well as tax clients. Call I&A to set up your Bookkeeping meeting or to make your tax appointment today.
After 15 years of service at I&A, Angie will set up your appointment and process your documents with care and accuracy. She is extremely conscientious about her work and is very personable. Angie will have some temporary help in the office again this year, so put these ladies to work and make your tax appointment today!
99% error free at Ingram & Associates
Review the following tips for being prepared for your tax appointment in 2022
If possible, please do not bring children to your appointment.
- Please bring all statements that show the wages, interest or any other income you received during 2021 (W-2's, 1099's, your Social Security Statements, Pensions & Annuities, etc.)
- If you withdrew money from your 401k, please bring the required documentation (Form 1099-R)
- If you were unemployed, received alimony or gambling winnings, please bring these documents with you (W2-G)
- If you paid any Student Loans during 2021, please bring form 1098-T with you (provided by College)
- If you were Self-employed during 2021, please bring totals of your income and expenses by category (see Business/Rental section below)
- If your child goes to daycare, we need to have the ID number (or Social Security number) and address of the provider along with the amount you paid to them
- If you are covered by Health Insurance please bring a copy of your 1095 A, B, or C - whichever applies to you
- If you did not receive the 3rd Stimulus check of $1400, you may be entitled to a Rebate Credit
- Reconcile payments received from the Advanced Child Tax Credit and bring with you (may receive letter from IRS summarizing the payments sent out)
- Could be a substantial penalty for not withdrawing the required minimum distributions from your retirement account by 12/31/2021 (this was waived in 2020)
With proper documentation, the following may be deductible:
- Unreimbursed medical expenses
- Moving expenses (if Military)
- Recognizable charitable donations (up to $600 for married couples without itemizing deductions)
- Overnight job related expenses (log book if filing Schedule C)
- Job improvements (if you own your own business)
- Casualty losses (if loss was from a natural disaster)
All receipts should show a grand total
For Business expenses and Rental property, please have a total expense for each of the following categories, if applicable:
- Car & Truck Expense
- Commissions and fees
- Contract Labor
- Insurance (other than health)
- Interest paid on Mortgage and/or interest paid on other loans for your business
- Legal and Professional fees
- Office Expense
- Rent or lease
- Repairs & Maintenance
- Taxes & Licenses
- Deductible Meals
- Wages paid to employees
- Other Expenses
If new equipment was purchased, please provide a list of equipment with the date purchased and the amount.
January 31, 2022:
Furnish W-2 Copies B, C, & 2 to employees. File Copy A along with Form W-3 to the IRS.
Furnish 1099 Copy B to recipients. File Copy A with the IRS along with Form 1096 for paper filing.
March 15, 2022:
Last day to file Partnership and Corporate Returns
April 15, 2022:
Last day to file Individual Returns
Need more time to file? Then use Form 4868 to apply for an automatic extension.
Print Form 4868, fill out the requested information, attach the amount you think you will owe on your 2021 tax return and have it postmarked by April 15, 2022 to receive an automatic extension until October 15, 2022. When mailing checks to the IRS, you need to put your complete social security number on the check and the reason (i.e.: Year 2021, form 4868 extension).
Changes for 2021 Tax Season in 2022:
Tax Day is Thursday, April 15, 2022.
If you didn't receive the $1400 Stimulus check during 2021 ($2800 for Married filing jointly), you may be able to receive a credit for it on your 2021 tax return if you qualify. If you did receive the money, it will not count as taxable income. Instead, it is being treated as a refundable tax credit for 2021.
If you itemize deductions, the CARES Act allows you to deduct up to 100% (verses 60% in 2019) of the adjusted gross income in your qualified charitable donations, in an effort to encourage charitable giving.
If you don't have enough deductions to itemize, the CARES Act added a new "above-the-line" deduction that will help you write off up to $300 of charitable contributions you made in cash ($600 for Married Filing Jointly).
If you itemize, you can deduct out-of-pocket medical expenses above 7.5% of your adjusted gross income.
If you are self-employed, there are lots of deductions you can claim on your Schedule C including travel expenses and take a home office deduction if you use a part of your home to conduct business. However, if you were sent home to work remotely, you won't be able to claim the home office deduction as this is reserved for self-employed individuals only.
Make your appointment with Ingram & Associates for all the up-to-date information needed to receive the tax breaks you deserve.
The standard deduction has increased to $12,550 for single filers, $25,100 for married couples filing jointly, Married filing Separately is $12,550 and Head of Household is $18,800.
Depending on your income, your filing status and how many children you have, you could save anywhere from a few hundred to a few thousand dollars by qualifying for the Earned Income Tax Credit.
The Child Tax Credit is $3,000 per qualified child (with income limitations).
If you received unemployment benefits in 2021, you will need to pay income taxes on that money.
You might have to pay income taxes and a withdrawal penalty for any 529 educational plans that were refunded to you.
The IRS has waived penalties on early withdrawals from your 401(k) and IRA accounts for 2021 but you still have to pay income taxes on the money you withdrew.
If you own a traditional IRA, the age has increased from 70 1/2 to age 72 on withdrawals of required minimum distributions. Owners can also continue to contribute to the traditional IRA past age 70 1/2.