A tax-advantaged means by which people (usually self-employed) can set aside income on a before-tax basis is known to the IRS as a(n) ___ plan.

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A Keogh plan, also known as a Qualified Plan, is a tax-deferred retirement plan designed for self-employed individuals and small business owners. It allows them to set aside money in a tax-advantaged way, reducing their current tax liability while saving for retirement. An annuity is a different type of investment product that may be used as part of a retirement plan. An IRA (Individual Retirement Account) is also a tax-advantaged retirement account, but is not specific to self-employed individuals or small businesses. A tax-exempt pension is not a common term used by the IRS.

A Tax-Advantaged Means by Which People (Usually Self-Employed) Can Set