There aren't many better deals for selfemployed
carpenters or small construction
businesses than tax-deductible
pensions, like Keogh plans or IRAs. The
money you put in comes right off the
top of your income, so you don't have to
pay tax on it — not in the year you
earned it, and not while it sits in the
account, accumulating interest. In fact,
you don't pay income tax on these types
of pension plans until you retire and
starting collecting the money, by which
time you could be in a lower tax bracket.
But only about 5% of the people who
are eligible for an IRA or Keogh pension
actually have one. This may be yet
more