Re: Keogh Catchup Contributions

N411BC · ‎05-13-2021

Are Keogh catchup contributions tax deductible? Client made $57K plus 6.5K Keogh contribution for $63.5 Total. SEP Worksheet allows max of $56,817 as deductible.

qbteachmt · ‎05-13-2021

Are you being limited by the earnings?

Read this as a review: https://www.fool.com/retirement/plans/keogh-plan/

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sjrcpa · ‎05-13-2021

What kind of Keogh catchup do you think there is?

There is an over 50 additional contribution allowed for 401(k) deferrals.

Your basic SEP has no deferrals and $57K is the maximum annual addition.

The more I know, the more I don't know.

qbteachmt · ‎05-13-2021

SEP and Keogh are not the same, and the possibility for Keogh is three different types.

Another article:

https://www.investopedia.com/articles/investing/112315/sep-vs-keogh-plans-which-right-you.asp

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Keogh Catchup Contributions

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