tax discussion
Thanks, Raven. Do you mean the unearned income line (where the IRS usually advises putting gaming earnings)? I'm not sure that is allowed to be applied to a KEOGH, but then, the reason I'm asking the question is I'm not sure. The pamphlet I got on opening a KEOGH account said that any earnings from self-employment could be applied.
For those of you who don't know, with the recent tax changes that went into effect January 1st, you may now put up to 100% of self-employment income into a tax deferred KEOGH account (there are certain limits, but from my perspective they are irrelevant). Up until now, you've only been able to put up to 25%. Since over the past 6 years I've been making from $3500 to $10,000 off BJ as a "weekend warrior", I never felt the 25% was worth the paperwork. But now if I can put in 100%, well, that's another kettle of fish.