Article: SELF-EMPLOYED PERSON SHOULD CONSIDER KEOGH PLAN OR SEP-IRA.(Business)(PERSONAL FINANCE)

Byline: ERIC TYSONCOLUMNIST

QUESTION: I run a successful small business. I do not qualify for a tax-deductible individual retirement account because I file jointly with my husband and our combined income exceeds the maximum amount allowed by the Internal Revenue Service. What can I do to shelter some of my income from taxes? My husband has a 403(b), which I don't understand.

ANSWER: For people who have access to a retirement account through their employers, the IRS completely disallows tax- deductible IRA contributions when their adjusted gross incomes exceed $64,000 for married couples filing jointly and $44,000 for single filers.

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