can an independent contractor get a ppp loan and unemployment

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  • Should independent contractors accept PPP or unemployment benefits?

  • 鈥淎s an independent contractor you can in essence do both as long as you fill out the Unemployment forms honestly, he tells us. If you treat the PPP as a loan, then it鈥檚 legitimate to accept Unemployment.

  • Can I use PPP money to pay for unemployment?

  • Or you can accept PPP money and use it as a grant to pay your business expenses, then pay it back, and still collect Unemployment. 鈥淎s an independent contractor you can in essence do both as long as you fill out the Unemployment forms honestly, he tells us. If you treat the PPP as a loan, then it鈥檚 legitimate to accept Unemployment.

  • Do independent contractors pay unemployment taxes?

  • Neither independent contractors, nor their clients or customers, pay state or federal unemployment taxes. However, Congress has passed the Coronavirus Aid, Response, and Economic Security Act (CARES Act). As a result of the CARES Act, for the first time ever, independent contractors can be entitled to unemployment benefits.

  • Can I use PPP to pay for my business expenses?

  • Or you can accept PPP money and use it as a grant to pay your business expenses, then pay it back, and still collect Unemployment. 鈥淎s an independent contractor you can in essence do both as long as you fill out the Unemployment forms honestly, he tells us.

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