Keogh Plans

Ask Taxation Questions and Get Experts Online

» » » Keogh Plans

Seek advice on Keogh Plans? Come to ExpertsLand with your questions on Keogh Plans and get the best Taxation experts from the world to answer your questions and offer advices on Savings consulting. ExpertsLand offers a 24*7 service for your questions on Taxation.

The Taxation professionals at ExpertsLand can answer your Keogh Plans questions like:

  • I am a self-employed consultant with no employees working for me, I am holding a Keogh plan with 401K option since last 10 years, and have filed Form 5500-EZ each year as req'd. Now i am interested in terminating the Keogh plan and roll the proceedings to a traditional Rollover IRA. I have completed the Form 5500-EZ for the year in which I actually completed the rollover transaction, is there any other complicated paperwork for which I need a professional Tax Advisor's help?
  • I have a keogh plan which was cashed out in the estate while it is in probate. Would this be considered as capital gain on the 1041 or do it get a step up in basis?
  • I am a business operating as sole proprietor and hove no employees working for me. I have two keogh accounts (defined benefit and profit sharing) which I opened several years ago, i have not funded this account for some time because I have been funding a SEP IRA account. In order to make the record keeping simple I would like to roll these keoghs into the SEP. I would like to know if and how to do this correctly. I have been told about different forms to be filled namely 1099-R and 5498, 5500EZ. All three accounts are with a discount broker and they can make the switch, but will not do any filing with the IRS. Want a complete understanding of the legal procedure.
  • Can a sole propietor open a keogh plan, make the maximum investment of $55,000 per year and also make the maximum contribution to a Roth IRA in the same year which I beleive is around $10,000?
  • Management of my company established a Keogh Plan years ago and it also provides for the EMPLOYER contibutions. there was a Profit Sharing Plan (8% of salary) and a Purchase Money Plan (12% of salary). 3 years ago, my employer completely stopped the Profit Sharing. Earlier we use to receive contributions to the Money Purchase Plan in every October and April. We have not received any money since April 2008. When asket from the management, they said  that as long as they does not contribute to their account, they are not required to contribute to the employee's accounts also the management of the company today indicated that they actually participates in a SEP plan which they thinks is a "self-employed plan". according to my knowlege if an employer contributes to the SEP then contribution must also be made to the employees account.


The Taxation professionals at ExpertsLand are passionate about sharing their knowledge making their expertise on Keogh Plans easily accessible to those in need. Refer our Taxation experts for an advice you seek or an idea you need regarding anything on Savings consulting. These professionals are ready to give an opinion and will provide you with directions for your questions on Keogh Plans.

Get a perfect Keogh Plans answer with the satisfaction of asking numerous follow up questions at a nominal amount on ExpertsLand. Register with us and explore the world of expertise.

Taxation Questions

Share your views on Taxation

Chat now