Vested For Growth
Vested For Growth
Financing OptionsCEO CornerPortfolioAbout UsContact Us

By clicking “Continue” you will leave the Vested for Growth site. The linked site and its content, privacy and security are not controlled by Vested for Growth. We do not guarantee or endorse the linked site’s information, recommendations, products or services.

Email is not a secure form of communication. Please do not use email to send any confidential or sensitive information, including Social Security numbers, account numbers or passwords. If you need to provide this type of information to Vested for Growth, contact us by phone at (603) 856-0780, by fax at (603) 225-7425 or by paper mail.

The tax man cometh, with a gift for your employees!

By John Hamilton

[February 22, 2010]

Here is possibly the best tax news you will learn this year. Employees earning less than $48,278 can qualify for a tax credit for up to $5,600, called the Earned Income Tax Credit (EITC). At no cost to your business, employees receive this federal credit which is similar to having additional money in their paycheck – perhaps as much as $2/hr more.

What is the rub? The only problem is that employees need to know about it in order to take advantage of this resource. Unfortunately, so many employees don’t file or even know about this resource that in NH alone, $10-15 million went unclaimed last year.

Pass along this EITC handout to your HR and encourage them to help spread the word, particularly to employees who would not normally file a tax return. Here are some ways that other businesses have found to educate their employees about this resource…

  • Encourage your HR person to visit the IRS website on the EITC to learn how best to educate your workers.
  • Put this email stuffer that describes the EITC and ways to file taxes for free.
  • Consider your business hosting a VITA site where people can come to get free help on filing the federal tax form.

Have all of your employees filed? What worked and what did not? I’d like to know. So many employees are struggling to arrive at work focused and ready to be productive. Be sure to take advantage of this “win/win” that will pay off for employees and your business!

John Hamilton is Vested for Growth's Managing Director and the New Hampshire Community Loan Fund's Vice President of Economic Opportunity. More Community Loan Fund blogs.

Community Loan Fund