OnDeck Survey: Support For Sanders Growing Among Small Business Owners - Yahoo Finance

OnDeck Survey: Support For Sanders Growing Among Small Business Owners - Yahoo Finance


OnDeck Survey: Support For Sanders Growing Among Small Business Owners - Yahoo Finance

Posted: 03 Feb 2020 03:00 AM PST

Economy and Healthcare Are Top Small Business Issues in 2020 Election

NEW YORK, Feb. 3, 2020 /PRNewswire/ -- A new national election survey of small business owners shows Senator Bernie Sanders narrowing the gap on former Vice-President Joe Biden in the race for the Democrat Party nomination. The survey was conducted earlier this month by OnDeck® (NYSE: ONDK), the leader in online lending to small business, and shows Sanders at 12.7 percent, up from 8.7 percent in OnDeck's September 2019 presidential election survey.  Biden remains in first place, but support among small business owners fell from 18 percent to 14.9 percent.

The small business survey results from OnDeck come as Iowa Democrats gather today for caucuses that kick off the nominating primaries that will choose the party's presidential nominee.  In addition to the tightening battle between Biden and Sanders, former New York City Mayor and businessman Mike Bloomberg appears to be gaining favor among small business respondents, garnering 5.5 percent to nudge close to Senator Elizabeth Warren, who is in third place at 6.1 percent.  

Presidential Candidate Preference: OnDeck Small Business Survey - January 2020

Democratic Candidates – Top 5

  • Joe Biden – 14.9%
  • Bernie Sanders – 12.7%
  • Elizabeth Warren –6.1%
  • Mike Bloomberg – 5.5%
  • Andrew Yang – 4.1%.

Republican Candidates

  • President Donald Trump – 40.7%

Overall, President Trump remains the preferred choice of the small business owner respondents, tallying 40.7 percent, up from 37 percent in September of 2019.

The OnDeck survey released today is the second in a series from the nation's largest online small business lender that focuses solely on small business owner preferences ahead of the 2020 Presidential election. Small businesses are a crucial and economically vital voting bloc, representing 99 percent of businesses in the United States and employing almost 60 million people, roughly half of the U.S. workforce.

Issues of Importance to Small Business Owners – January 2020

According to the OnDeck survey, the economy (14.9 percent) remains the top issue for small business owners, with health care (10.2 percent) moving up to second as an area of importance, replacing immigration (8.9 percent), which dropped to third.  

Overall, 63 percent of small business respondents now feel optimistic about the outlook for the economy, up from 57 percent in OnDeck's survey last September.  

OnDeck 2020 Election Survey Snapshots:

View photos

 

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Survey Methodology
The OnDeck survey of 716 small business owners was conducted from January 6 to January 15, 2020 and included respondents in all 50 states and from a diverse set of industries. The margin of error was 3.66 percent.

About OnDeck
OnDeck (NYSE: ONDK) is the proven leader in transparent and responsible online lending to small business. Founded in 2006, the company pioneered the use of data analytics and digital technology to make real-time lending decisions and deliver capital rapidly to small businesses online.  Today, OnDeck offers a wide range of term loans and lines of credit customized for the needs of small business owners.  The company also offers bank clients a comprehensive technology and services platform that facilitates online lending to small business customers through ODX, a wholly owned subsidiary. OnDeck has provided over $12 billion in loans to customers in 700 different industries across the United States, Canada and Australia. The company has an A+ rating with the Better Business Bureau and is rated 5 stars by Trustpilot. For more information, visit  www.ondeck.com .

Media Contact:
Jim Larkin
OnDeck
jlarkin@ondeck.com
P: 203-526-7457

Investor Contact:
Stephen Klimas
OnDeck
sklimas@ondeck.com
P: (646) 668-3582

OnDeck, the OnDeck logo, OnDeck Score and OnDeck Marketplace are trademarks of On Deck Capital, Inc.

 

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OnDeck Logo (PRNewsfoto/On Deck Capital, Inc.)

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SOURCE On Deck Capital, Inc.

Goldman in talks with Amazon to offer small business loans - Financial Times

Posted: 03 Feb 2020 06:48 AM PST

Goldman Sachs is in advanced talks with Amazon to offer small business loans in the US, as the Wall Street bank turns to Big Tech to break into mainstream areas of financial services.

Goldman has begun building technology that would allow it to offer loans to small and medium-sized businesses over Amazon's lending platform, according to two people briefed on the situation. The project — which is likely to involve attaching Goldman's brand to the Amazon product in some way — could go live as soon as March, one of them said.

Last week Goldman's chief executive David Solomon promised shareholders the bank would boost returns by winning revenues from new sources such as consumer banking and wealth management.

An agreement with Amazon would follow March's announcement of a credit card partnership with Apple, a tie-up which features the bank's branding on the physical card and in some marketing and gives Goldman a direct channel to Apple's more than 100m US subscribers. 

Executives at Goldman, which lacks the physical branch network that most banks use to attract SME customers, have described the Apple Card as the "most successful credit card launch ever". Card lending is understood to account for a significant portion of the $7bn of consumer loans and card balances the bank had at the end of last year. Goldman also offers consumer lending in the US through Marcus, its retail banking arm.

Amazon had outstanding small business loans of more than $863m on its own balance sheet at the end of 2019. For the past eight years it has lent to small businesses that sell on its site, using the data it holds on their cash positions to offer quick-decision loans in a handful of countries. 

But Amazon Lending's growth has been patchy in recent years, and the tech company now uses bank partnerships in some markets outside the US. 

John Cronin, an analyst at Goodbody's, said banking partnerships could allow Amazon to "significantly extend" its SME lending platform "without any associated credit risk of regulatory obligations (in the context of capital and liquidity and so forth)".

Amazon declined to comment on the Goldman deal and said lending was "part of the services, tools, programs and infrastructure we provide to our selling partners, mostly small and medium-sized businesses, who account for more than half of everything sold in Amazon's stores".

A spokesman for Goldman also declined to comment.

Goldman is in the midst of a dramatic transformation from a trading and investment banking powerhouse to a broader financial services group that more closely resembles that of rivals JPMorgan Chase and Citigroup.

Its new consumer ventures accounted for less than 3 per cent of revenue last year, while the cards and consumer loan balances at the end of 2019 were less than 1 per cent of its $993bn in total assets. 

Goldman has said that while it will be moving into businesses such as consumer banking and cash management, it will be doing so in a more efficient way by using new technology and avoiding some of the legacy costs that have held back other banks. 

At its recent investor day it said it would pursue "banking-as-a-service" this year, one aspect of which involves banks allowing third parties to "white label" their products. 

York City to roll out micro-loan program for small businesses - York Dispatch

Posted: 03 Feb 2020 06:32 AM PST

CLOSE

Merchants in York City's Royal Square district celebrate Small Business Saturday with freebies and fun to thank customers. York Dispatch

Entrepreneurs in York City will soon have the opportunity receive small, interest-free loans to build up their small businesses.

City officials will roll out its partnership with Kiva, a nonprofit organization providing a crowd-funded lending platform to low-income individuals with business aspirations, at 11 a.m. Tuesday, Feb. 18, in City Council chambers.

The city, which will match all loans, is the first city of its size to partner with the company, according to a news release from the city.

"For me, it's literally a dream come true," said York City Mayor Michael Helfrich. "… I think this can change the lives of families. I think this can change neighborhoods."

More: Closer Look: Are opportunity zones economic development or subsidized gentrification?

Some city residents have complained that officials prioritize development in the downtown areas rather than its small, less wealthy neighborhoods.

The city hopes the program will change that perception by allowing small business owners, particularly in diverse, lower-income areas, to apply for zero-interest loans ranging from $1,000 to $10,000.

The partnership is expected to spur economic development and create jobs, according to the city.

The York County Community Foundation and PNC are providing financial support for the partnership. The initiative is also crowdfunded, meaning community members can contribute to the program by joining the site. 

— Logan Hullinger can be reached at lhullinger@yorkdispatch.com or via Twitter at @LoganHullYD.

Read or Share this story: https://www.yorkdispatch.com/story/news/local/2020/02/03/york-city-roll-out-micro-loan-program-small-businesses/4622222002/

Top 15 Tax Filing Software Products for Small Business Owners - Small Business Trends

Posted: 03 Feb 2020 06:00 AM PST

Filing tax returns remains a time-consuming and complex task. But tax filing software enables you to accurately and quickly file tax returns. As a result, you can spend more time doing what you do best — running your own business.



Tax Filing Software

Take a look at our list of the best tax software for small business below.

H&R Block

With H&R Block, you can file taxes online from any device. Users have the option of having their return checked for free by a tax professional before they file, to ensure accuracy and help them get the maximum refund.

You can import the data from your W-2 or other leading software, eliminating the need to redo data entry. With this software, you can file your tax return directly to the IRS through an encrypted and secure program. Furthermore, if you file your federal tax with H&R Block, you can add some or all your refund to an Amazon.com gift card.

H&R Block's self-employed online tax filing costs $79.99 plus $36.99 per state filed.

TurboTax

TurboTax is an easy-to-use tax filing software, which has free federal and state filing options for 1040EZ and 1040A filers. Tax returns are filed with 100% accuracy. You can also benefit from live tax advice from a CPA or enrolled agent about your unique tax situation. One stand-out feature is that you can prepare taxes from multiple businesses in one place.

TurboTax provides a final review of your return with a CPA or enrolled agent, giving you total peace of mind. TurboTax Business costs $169.99, and has five free federal e-files included.

TaxSlayer

TaxSlayer is full of great features, including guaranteeing the maximum refund you are entitled to, and, if you don't receive the maximum refund, TaxSlayer will refund you the applicable TaxSlayer purchase price paid. The software also offers the option to deduct your TaxSlayer filing fees directly from your federal tax refund.

You can prepare and e-file your taxes on the go from any laptop or mobile device. TaxSlayer's self-employed tax filing software costs an inexpensive $47. The Premium option costs $35 and includes VIP support and Tax Pro.

Liberty Tax

Liberty Tax provides fast, accurate, easy and secure online tax filing software, which is backed by Liberty Tax's award-winning support available through chat, email, social media or in-person at Liberty Tax's 4000+ locations.

The system allows you to decide which aspects of a return you would like to work on. Taxes can be filed in as little as 15 minutes and 100% accuracy is guaranteed as Liberty Tax double checks every calculation, meaning you can file with confidence. Liberty Tax's Premium Tax Filer costs $45.

TaxAct

Costing $75, TaxAct's inexpensive self employed edition is ideal for small business owners, freelancers and contractors. It allows you to file one federal tax return and each e-file state tax return will cost an additional fee.

TaxAct guarantees a maximum refund and carries a $100,000 accuracy guarantee. TaxAct provides seven years of access to your return. It also provides free technical phone support if you require it.

e.smart Tax

The e.smart Tax's Premium tax filing software package is available for an affordable $45. It enables small business owners to prepare and e-file their 1040 forms without any hassle. The system is backed by the professional tax advice of e.smart's tax professionals and provides a 100% accuracy guarantee.

You can import your W-2 information with the press of a button, as well as last year's return. The software checks this information for hundreds of credits and deductions to get you the biggest refund. With itemized deductions, e.smart makes sure you get the highest amount available. You can even get credit for your loved ones with this tax filing software.

Free Tax USA

Free Tax USA provides free e-filing of your federal tax returns straight to the IRS. State tax returns cost $12.95. Free Tax USA's Advanced product option is suitable for small businesses looking for a free tax filing solution.

The Deluxe product has more features, including audit assist protection giving you peace of mind by having a tax specialist help you through your tax return. The product also offers Live Chat with Priority Support, which enables you to jump to the front of the support queue. This additional assistance costs just $6.99.

Jackson Hewitt Online

Jackson Hewitt offers a few different options for filing your taxes. First, you can work directly with a tax professional in your local office or at select Walmart stores.

However, if you want to file your taxes from home, Jackson Hewitt also offers a Tax Pro From Home option. With this option, you simply upload your tax documents to the online platform. Then a tax professional will review everything and get back to you within 24 hours. Rates vary depending on how complicated your return is. But you can get a quote and complete the whole process from the company's online platform.

Credit Karma Tax

Credit Karma Tax offers a free solution for individuals and self employed professionals. The platform walks you through the process. And you can even take a photo of your W2 if you have a simple return and they'll input the information into your forms automatically. If you have questions throughout the process, you can chat with a tax pro right from the platform.

Credit Karma Tax is free for both federal and state taxes. But not all types are supported. The company also offers Audit Defense for those who file using Credit Karma and for Credit Karma members who file elsewhere.

1040.com

If you want straightforward service and pricing, 1040.com may be the choice for you. The online software allows you to prepare and file both state and federal taxes for a flat rate of $25, no matter what type of returns or deductions you have to work with.

In addition to providing a simple platform, 1040.com is known for providing accuracy and support in case you have questions. You can even go through your returns from a mobile device to complete them while you're on the go.

File Your Taxes

File Your Taxes provides a secure online tax filing solution. The software offers solutions for both individual and business returns. You can also use it to complete past year returns, extensions, and other complementary tax documents.

Federal returns start at just under $50, and state returns cost less than $40. It's also free to e-file once you pay for tax prep assistance.

TaxHawk

TaxHawk is an IRS approved e-filer, so you can complete and file your entire federal return online for free, as long as it's a simple return. Deluxe returns, which cost $6.99, include priority support, unlimited amendments, and audit assist.

You can also use the platform to complete state taxes, prior year returns, and extensions. Once you file, you can use the tool to check your status and keep an eye on your refund or make sure your payment has gone through.

ezTaxReturn

ezTaxReturn lets you start your tax return online and then walks you through the process as you go, offering free support along the way. The tool is free for simple returns. But for small businesses and others with more complicated deductions, it's just under $40 to file both state and federal taxes.

Once you file, the platform also offers options for downloading your return, amending it, and protecting yourself from audits. Each additional service is offered a la carte.

1040Now.net

With 1040Now.net, you can start preparing your tax return online for free. An E-File provider authorized by the IRS, the platform allows you to submit everything right online, with about a $20 fee each for federal and state returns.

The tool is known for being secure and for offering a complete library of various tax forms. So no matter what kind of tax issue you're working on, you should be able to find a solution.

OnLine Taxes

OnLineTaxes at OLT.com offers both a free and premium version. With the free option, you can prepare and file a simple federal return at no cost and pay $10 for your state return. The premium option allows you to file state and federal returns for $8.

With the premium option, you get support throughout the course of preparing your returns. And you can even compare returns year after year to ensure accuracy.

When it comes to the arduous, complicated and time-consuming task of preparing and filing tax returns, investing in small business tax software like the ones mentioned above, will help you file your tax return with confidence and at a fraction of the cost of a CPA or other tax professional.

Image: eztaxreturn.com

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