KEOGH PLAN
Also known as HR-10 plan or HR 10 plans, it is a tax-deferred pension account for self-employed workers and small businesses for retirement. In general, contributions are tax deductible for up to 25% of yearly income with a limit of $47,000. It has different types of plans: money-purchase (used by high-income earners), defined-benefit (have high annual minimus), and profit sharing (offer annual flexibility based on profits).
Keogh Plan, created through legislation spearheaded by Eugene Keogh, was established in 1962 under Self-Employed Individuals Tax Retirement Act. Later, it was revised in the Employee Retirement Income Security Act of 1974, Economic Recovery Tax Act of 1981, and Tax Equity and Fiscal Responsibility Act of 1982.
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Uptick
An Uptick is a transaction or a business deal for a financial instrument that surpasses the previous transaction in price. If the price of a stock ...
Lock In Profits
Realizing the profits of a position such as buying a stock by exiting at a gain. By doing so, the portion of that investment is no longer vulnerabl ...
Profit
Profit occurs when the amount of revenue gained from a business exceeds the expenses, costs, and tax needed to maintain the business activity.
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Due Diligence Meeting
Meticulous probe conducted by an underwriter, ensuring all details has been revealed to prospective investors before issuing a new security.
Laffer Curve
The relationship between tax rates and tax revenue collected by the government. Formed by Arthur Laffer, the curve states there is an optimal tax i ...
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