An important benefit of Keogh plans is that
A) they are not taxable until funds are withdrawn as benefits.
B) they are protected against inflation.
C) they are automatically insured by the Federal government.
D) they are not taxable until funds are withdrawn as benefits, and they are protected against inflation.
E) they are not taxable until funds are withdrawn as benefits, and they are automatically insured by the Federal government.

Question

Quizplus · Accepted Answer

Keogh plans, which are retirement plans for self-employed individuals and their employees, offer tax-deferred benefits. This means that contributions to the plan are tax-deductible, and taxes on earnings are deferred until funds are withdrawn, typically at retirement. They are not inherently protected against inflation, nor are they automatically insured by the Federal government.

An Important Benefit of Keogh Plans Is That