More than a quarter of Americans are living paycheck to paycheck without savings or investments, such as a home or small business. Evidence shows that training and incentives can help. That’s where we come in.
Commerce’s Asset building program offers start-up support and free consultation for asset building in communities across Washington state by:
- Promoting financial literacy, savings, and access to mainstream banking
- Promoting the use of the Earned Income Tax Credit, along with free and reduced-costs tax preparation services
The goal of the asset building program is to help people save more money so they can build upon their hopes and dreams.
Asset building programs
- Washington Asset Building Coalition – a statewide association working to promote policies and programs in Washington that assist low-and-moderate income residents build, maintain & preserve assets through investments in education, homeownership, personal savings, and entrepreneurship
- Bank On Washington – a program that brings banks, credit unions, government, and community organizations together to provide individuals with access to low-cost checking and savings accounts
- Statewide Financial Education Calendar – learn about money management classes being offered around the state
Earned Income Tax Credit (EITC)
The Earned Income Tax Credit (EITC) is for people who earn low-to-moderate incomes. EITC can reduce a worker’s taxes and result in a refund.
Earned Income Tax Credit (EITC)
The Earned Income Tax Credit (EITC) helps low-to-moderate income workers and families get a tax break. Many people in Washington are eligible for EITC, and this credit is potentially worth thousands of dollars.
Tax resources