K
Keogh PlanAlso known as an HR 10, this is a qualified retirement plan for self employed who do not incorporate their business. If qualifications are met the taxpayer may receive a deduction for contributions made.
Key EmployeeFor purposes of rules that apply to top heavy plans, a key employee:
1. An officer of the employer earning more than $130,000;
2. An individual who owns more than 5 percent of the employer;
3. An individual who owns more than 1 percent of the employer and compensation greater than $150,000.
Key IndustryIndustry of primary importance to a nation's economy.
Key Person InsuranceBusiness-owned life insurance contract typically on the lives of principal officers that normally provides for guaranteed death benefits to the company and the accumulation of a cash surrender value.
KitingWriting checks against a bank account with insufficient funds to cover them, hoping that the bank will receive deposits before the checks arrive for clearance.
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Accounting Terminology Guide
RandomAccounting Terminology Guide - Over 1,000 Accounting and Finance Terms A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9