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Greetings, Tisha, and welcome. You asked:

<<My husband set up a 401K (I thought) through his work. I was fine (very happy!) with that.
It turns out that it's a keogh profit sharing plan.
What in tarnation is this exactly???

What is the maximum he can contribute to it yearly?>>

A Keogh is a qualified retirement plan for the self-employed. For a general description, see my Foolish Retirement Plan Primer at You should also read IRS Publication 560 (Retirement Plans for Small Business) available at Both will give you a good overview that should answer your questions.

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