Keogh plan

What do you stand to gain from a Keogh plan?

Rules are great - when they work in your favor, and Keogh plans have quite a few of them.

Some Keogh plans limit contributions to 13.04 percent of income.

A Keogh plan is frozen when it no longer accepts contributions.

Many owners of Keogh plans are facing a double tax deadline this year.

The maximum was also raised for people in defined-contribution Keogh plans.

Some freelance income can be sheltered from taxes in a Keogh plan, however.

A Keogh plan, like any retirement plan, has many rules and regulations.

And people with full- or part-time self-employment income can establish Keogh plans.

Otherwise, individuals may be more comfortable with a "profit-sharing" Keogh plan.

Although it may require more paperwork, a Keogh plan can allow more savings.

Being the boss gives you substantial control when choosing a retirement strategy, which may include a Keogh plan.

Keogh Plans cannot be used for "self-employed" individuals who work in the capacity of an independent contractor.

To minimize the taxes she pays, she has decided to start that Keogh plan for her business income.

Q. How much money can I contribute to a Keogh plan?

However, it reduces the earned income base used to calculate the maximum Keogh plan deduction.

On the other hand, a Keogh plan is a pension plan created by a self-employed person for himself and his employees.

If your self-employment earnings are relatively small, a Keogh plan alone may not provide adequate retirement savings.

Though his name no longer appears in the tax code, people still say "Keogh plan" in casual usage.

Keogh plan withdrawals are eligible for favorable "averaging" treatment.

Keogh plans are a type of retirement plan for self-employed people and small businesses in the United States.

On the next page, we explore Keogh plan rules, eligibility requirements and how to go about setting up a plan for yourself.

Defined-contribution Keogh plans can take one of two structures:

Do you have a Keogh plan?

Similar consideration should be given to money in Keogh plans, which are retirement savings plans for the self-employed.