Tag: contribution

Individual Retirement Account (IRA)

See Also: Pension Plans 401k Keogh Plan Payroll Accounting Deferred Income Tax Individual Retirement Account (IRA) Definition An individual retirement account or IRA is a personal account that an employee of a company can set up. The contributions to the account are tax deferrable until the funds are withdrawn after age 59 1/2. There are

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Keogh Plan

See Also: Pension Plans Deferred Income Tax Tax Brackets Contribution Margins Employee Stock Ownership Plan (ESOP) Keogh Plan Definition The Keogh plan was developed by a United States Representative from New York named Eugene Keogh. A Keogh plan is a tax deferred retirement plan which has some advantages to the self-employed companies that have less

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Adjusted Gross Income Definition

See Also: Financial Ratios Operating Profit Margin Ratio Net Profit Margin Adjusted Gross Income Margin vs Markup What is Adjusted Gross Income Definition? The adjusted gross income definition (AGI) is a taxpayer’s gross taxable income. It consists of total income minus allowable adjustments. These allowable adjustments, also known as “above the line deductions,” reduce the

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See Also: Pension Plans How to select a PEO Gross Up Payroll Accounting Keogh Plan W2 Form 401k Account Definition A 401k plan is a retirement plan that allows employees to contribute pre-tax earnings to a group company account. The 401k account or the funds in the account are invested for the employees in stocks,

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