There are two different types of Keogh plans, the Profit Sharing and the Money Purchase plan. The Profit Sharing contribution can change each year.
Individuals can contribute to both types of plans in the same year.
Compare the Results High Maximums For self-employed workers, Keoghs offer the ability to set aside the largest amount of money in a retirement plan. In addition to the high maximums, you retain the opportunity to invest in regular IRAs. Who Is Eligible Keoghs are designed for workers or partners with self-employment income. To see which retirement plan is right for your business, click here. Contributions Contributions to a Keogh can be made for the tax year from January 1 of that year until April 15 of the next year.