A money-purchase plan lets you decide at the outset how much of your profits you can place in a Keogh. The contribution limit is fixed and can't be changed. Limits for the money-purchase plan are the same as for profit-sharing: $66,000 in 2023 ($61,000 in 2022) or 100% of comp...
The key advantage to Keogh plans is that they have higher contribution limits, making them a popular option for many high-income business owners. What Is the Difference Between a Keogh and an IRA? Keogh plans are designed for self-employed people. While self-employed people can contribute to ...