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Are you ready to take your business to the next level? When you change the way your customer views your value, your business thrives. This means more consistent streams of revenue, higher revenue, and increased customer respect. How do you accomplish this? Let your client see you as transformative rather than simply trusted. If you provide any type of service for your customer, you want them to see you as competent, attentive, and punctual. But what if they saw you as transformational, as someone they couldn’t carry on without? When you do this, you solidify a partnership and make your business invaluable to your client. At Ingram, Wallis, & Co., we aim to help you be as successful and profitable as possible, so we put together a list of four things you can apply today to go from being trusted to being transformative.


When it comes to business expenditures, every dollar counts. So does every deduction. If you’re not careful, you may be ignoring easy tax-deductions that can have a big impact on your finances. At Ingram, Wallis, & Co., we don’t want you to miss a single dollar in your tax return. Pay attention to the four expenses listed below and consider using them as a key business strategy.


You’ve worked hard for your wealth, so why leave it up for grabs when creditors and lawsuits start lurking? Don’t you want to see your assets passed down to your children or set aside for your family to enjoy? We want that for you, too! It’s time to take a defensive stand and set up a hedge of protection around you. Scott Schomer, an Estate Planning Attorney makes this statement: “The general rule is – you need to start planning before your creditor’s start making claims against you.” Our team at Ingram, Wallis, & Co. wants to educate you on potential lawsuits you may face and how you can protect what’s yours. 


Your company may be clear on your budget cycle, but do you have a clear understanding of the accounting cycle? The budget cycle helps you plan for the future and gauge your operating performance. It is generally used internally. However, the accounting cycle manages information for external use and therefore, plays a significant role in the financial health of your business. At Ingram, Wallis, & Co. we are dedicated to helping you report every financial transaction correctly. If you’re hesitant about whether or not you’re utilizing the accounting cycle effectively, let us answer your questions and put you at ease today.


Have you recently inherited a large sum of money? This is known as a windfall, and while it can be a huge blessing, it can also be a curse if you don’t know what to do with it. In fact, intergenerational wealth transfers fail by the time it reaches the second generation because the recipient is clueless. Clueless about how to effectively manage the windfall and how to educate other families on handling the money expertly. At Ingram, Wallis, & Co., we want to help you establish a plan that protects the windfall and successfully grows your wealth for generations to come. We’re here to guide you through this transition so that it can actually be a blessing for you and your family.


There are four basic financial statements that are necessary, three that are most valuable, to effectively convey the health of your business. These financial statements are records that show the activity and financial performance of your business. Each of these statements can be used by investors, financial analysts, and creditors to analyze your company’s performance, make predictions about future stock prices, determine your earnings potential. Maintaining accurate financial statements is key in the event that you are audited. At Ingram, Wallis & Company, we want to help our clients understand the purpose behind each financial statement and how to utilize them properly. We care about the overall health of your business, and we understand that a thriving business is best articulated through the correct use of each financial statement.


Financial success, freedom to set your own schedule, and more time for the things that are truly important are three reasons you may have started your own business. You’re not alone if you find yourself frustrated that none of these goals are actually true. Instead, you increased your workload, have an overstuffed schedule, and see very little profit. The long weekends to take family vacations, the steady cash flow, and a growing staff? You feel as though it was all a mirage.


Most people underutilize the knowledge and expertise of an accountant. They recognize the need for a professional to file their taxes but don’t rely on an accountant throughout the rest of the year. If you want your business to succeed financially, hiring an accountant is the best decision you will make. This frees you up to do what you’re best at—running your business. By allowing an accountant to manage your finances, you will be set up for a prosperous future. Nearly 80% of small businesses fail within the first 18 months as a result of poor financial planning. But this doesn’t have to be true for you. At Ingram Wallis, we want to see your business flourish and remain in a healthy financial state. Our goal is to guide you and help you make the right financial decisions for your business so that you don’t become a statistic. We’ll show you five reasons why hiring an accountant is beneficial to the financial success of your business.


Once you file your tax return, you probably don’t want to hear from the IRS—unless they’re sending you a refund. You certainly don’t want to receive a notice saying there was a red flag on your tax return. These notices can often be confusing and cause unnecessary stress on your part. The best thing you can do is take extra care when you’re filing to avoid any mistake that may raise a red flag. If you follow these five steps, you’ll have nothing to worry about.


We see you scouring the internet for clues about how you can increase your tax refund and reduce the amount of taxes you owe. You wish you knew an expert who could tell you all about tax breaks and whether or not you can take advantage of them. We’ll give you insight into the 10 most popular tax credits and deductions, so you save money and expand your refund.


Many changes have been made in the new legislation that will affect nearly every taxpayer. So, as you prepare to file your 2018 taxes, we want you to understand the new tax reform laws. You’ll have more confidence as you file when you know how you’ll be impacted by the new tax provisions. Below are several categories that have been adjusted in the bill and how these changes will affect you.


As you prepare to file your taxes, the process can feel overwhelming. At Ingram, Wallis & Company, we want to help make your filing experience as simple and pain-free as possible, so we’ve created a list of most of the forms you need to gather before you file. Please note that every form and category may not apply to you. This is simply a guide to help you collect the correct information.


At Ingram Wallis, we provide a number of top-notch services that can greatly aid you or your business in getting your finances in order. At the core of these services are our taxes, consulting, and accounting services provided by our world-class staff of Certified Public Accountants.

Although we offer several useful accounting services from general ledgers and booking to computerized payroll services, and consulting services ranging from software selection and implementation to financial and retirement decisions, we are ready to help our clients take a step further with our wide range of tax services. With tax season upon us, we strive to provide financial information to our clients in a timely and accurate manner. This commitment is comprised of maintaining meaningful, well-organized financial records that can set up your business for success.


The relationship between accountant and client isn’t based on money; it’s based on trust.  There’s an invaluable connection from “Who do you trust with your finances?” to “Who do you trust with your future?” or “Who do you trust with your family?” At Ingram Wallis, our day-to-day operations and actions revolve around this central idea of trust. It’s a foundation that drives us to remain client-centered; we value the trust our clients place in us and set out each day to return on their investment with insight, counsel, guidance, accuracy, innovative services, and an ever-evolving portfolio of products. Our expansive accounting and auditing services, which are founded upon trustworthy client relationships, has allowed our dedicated staff of Certified Public Accountants to achieve innovative, efficient, and profitable financial solutions for our clients.


Thank you for voting Ingram, Wallis, & Company, P.C. as the 2018 Readers’ Choice for “Best Tax Service” and “Best Accountant/Tax Professional.” After receiving this recognition in each individual category in previous years, we are extremely honored to receive recognition for both categories in the same year. We truly appreciate the support from all of our clients and friends who voted for us and look forward to being the trusted source for all of your accounting and tax needs in the years to come.


The IRS has announced a significant increase in enforcement actions for syndicated conservation easement transactions. This is a "priority compliance area" for the agency.


Treasury and the IRS are expected to release proposed rules in "early 2020" that would clarify certain limitations on the carried interest tax break, according to David Kautter, Treasury’s assistant secretary for tax policy. Kautter briefly addressed the proposed regulations’ timeline while speaking at the American Institute of CPAs (AICPA) 2019 National Tax Conference in Washington, D.C.


Hopes for a year-end tax extenders package appear to be dwindling on Capitol Hill.


Senate Finance Committee (SFC) Chair Chuck Grassley, R-Iowa, and other top Senate tax writers are calling for Senate action on the bipartisan Setting Every Community Up for Retirement Enhancement Secure bill (HR 1994) (SECURE Act). The House-approved, bipartisan retirement savings bill has remained stalled in the Senate since May.


The Senate blocked a Democratic resolution on October 23 to overturn Treasury rules preventing certain workarounds to the $10,000 state and local tax (SALT) federal deduction cap.


Treasury and the IRS on October 31 announced the release of a new, draft form implementing certain reporting requirements under the Tax Cuts and Jobs Act Opportunity Zone program.


A California-based medical marijuana dispensary corporation’s motion for summary judgment challenging the constitutionality of Code Sec. 280E was denied. The Tax Court also addressed whether Code Sec. 280E applies to marijuana businesses legally operating under state (California) law, and whether the prohibition on deductions is limited to ordinary and necessary business expenses.


The IRS has proposed regulations that define an eligible terminated S corporation (ETSC), and provide rules relating to distributions of money by an ETSC after the post-termination transition period (PTTP). The proposed regulations also extend the treatment of distributions of money during the PTTP to all shareholders of the corporation, and update and clarify the allocation of current earnings and profits to distributions of money and other property.