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I am trying to understand Keogh plan tax implications. It seems that for propriators the deductible limit is always less than contribution allowed. As in the previous example, William mentioned 20% contribution. Does that mean that if you contribute 20% to MPP it is fully deductible, or again you have to use a formula to devise a deductible portion? Also, many people make 15+10 split between profit sharing and money purchase plan. Is the nondeductible portion subject to excise tax?
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