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A Keogh plan, pronounced KEY-oh, is a tax-deferred retirement plan available to income earning self-employed individuals and unincorporated businesses, such as sole proprietorships and LLCs.
Keogh plans are applicable to self-employed individuals who own their own unincorporated business (sole proprietorships, partnerships and LLCs). All contributions must be made "pre-tax", meaning that the contributions can be deducted from this year's tax, but taxes must be paid on the money when it is withdrawn during retirement .
Prior to 2001, self-employed workers were limited to a profit sharing retirement plan that did not include any employee deferral options in contrast to a multiple employer 401(k) Plan. There existed a retirement platform unique to self-employed workers, the SEP IRA and the Keogh plan , but it lacked many of the benefits of the typical corporate ...
Folks in business for themselves may also choose a solo 401(k), a retirement plan for self-employed people without employees (except possibly a spouse). This year, your pre-tax total contribution ...
Being self-employed has a multitude of benefits. While you can be your own boss and enjoy the flexibility and agency that comes along with this style of employment, there are certain things that ...
Self-directed 401(k)s. Self-directed Simple IRAs held as a 401(k) Self-directed defined contribution sharing plans. Self-directed Keogh plan accounts for self-employed folks.
The self-employed have several plan options, including defined contribution plans such as a solo 401(k), SEP IRA and SIMPLE IRA. But they also have some defined benefit options, too.
Corinthian McVitie Keogh is the son of Janet Keogh and Gaz Wilkinson; he was born in series 5, nine months after Janet slept with Gaz. The baby's middle name reflects Jonny Keogh's love of biscuits, McVitie's being a biscuit brand. Although Jonny raises him as his own until his death, Corinthian's paternity is initially uncertain.