By, land, they might get to the colombian highlands if they're lucky, and that's it. No way they can get to the Colombian, coast, let alonte through Panama's ithsmus.
That's all, at least by land. To the west they have jungle, and to the south the cold forests of chile, and to the southEast, the Pampas. They could go there, of course, but they wouldn't, cause they tended to conquer lands already settled by agricultural peoples culturarly similar. They'd have no use for nomad hunter gatherers of the pampas, and they wouldn't settle there either, since their crops wouldn't grow there, at least at first. Well, potatoes do grow there now, but between the andes and the fertile pampas there's a desert, and the Incas won't have much incentive to cross it.
I think, however, that the Inca's would conquer, eventually, all the civilized parts of northwesten, Argentina, which might encourage some peoples who had maize and/or llamas to move Esat into the Pampas, eventually spreading agriculture or llama hearding there (there's no reason, I think, why llamas cannot survive in the Argentine plains)
But, in all, the Incan empire wouldn't expand much more than IOTL, I think. It might eventually split in two or free short after conquering Colombian highlands.
By sea... not sure. They did get to Panama IOTL: Panamenian indians told the spaniards of peope from the south who had sails as their own, lots of gold, and pack animal (which the Spanish mistook for donkeys). I think, however, that currents make it harder to get to the "civilized" areas like Mexico or Northern Central America.