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Here's the situation. I have a regular job as part of a P.C. and have a pension/profit-sharing plan there.

But I also do some consulting work to the tune of about $20,000. As it is now, that "extra" income was on top of my "real work" income and thus taxed heavily.

Because this is consulting work, would a Keogh plan be right for me? As I understand it, I could at least put 20%=$5000 toward a Keough Retirement account, and thus only tax the remaining $15000.

If the answer is "yes," does anyone know how to set up a Keough plan? Do you need a lawyer, 3 financial advisors, a personal assistant and a few notaries, or is it something any Fool could do?

Thanks in advance.
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