Keogh plan

(redirected from Self-Employed Retirement Plan)
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Related to Self-Employed Retirement Plan: Simplified Employee Pension
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  • noun

Words related to Keogh plan

a tax-deferred pension plan for employees of unincorporated businesses or for self-employed persons

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9%) (40) Total tax savings $218 EXHIBIT 3 Increased Contribution to Self-employed Retirement Plan Regular Simplified Method Option Net SE income before deducting home office $132,500 $132,500 Less home office deduction Regular method (3,000) Simplified option (1,500) Net earnings from SE 129,500 131,000 Less deductible part of SE tax (8,784) (8,804) Adjusted net earnings from self-employment 120,716 122,196 Self-employed participant's rate based on a 25% contribution rate (.
You can also set up a qualified self-employed retirement plan (SEP) and deduct the contributions.
A decrease in deductions for self-employment tax and self-employed retirement plan contributions; and
If you are self-employed and plan to make a contribution either to a tax-deductible, self-employed retirement plan (KEOUGH) or a SEP IRA, you can extend the contribution date from April 17, 1995 by extending the filing of your income tax return.
IRS Publication 560, Self-Employed Retirement Plans, covers Keogh plans in detail.
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