Can I Collect SBA PPP and PUA at the Same Time? How to Collect Unemployment and PPP!



Can I Collect SBA PPP and PUA at the Same Time? No! Do NOT Collect Unemployment and PPP at the Same Time

No, you should not collect PUA and PPP at the same time. However, you may be able to collect both. Watch the video and I explain one option to consider when deciding if you want to collect unemployment and the paycheck protection program.

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Can I apply for a PPP loan if I am receiving unemployment assistance?

Yes, but proceed with caution. There is no restriction on receiving both benefits, but as a general rule you should not use your PPP loan to cover your own compensation while at the same time receiving unemployment benefits. If you are receiving unemployment benefits, you can use your PPP loan for other business expenses, such as other employees’ compensation, rent, mortgage interest, utilities, operating costs, property damage costs, and supplier costs. But remember, at least 60% of the forgiven loan amount must be used for payroll costs; if you use all or most of your loan for non-payroll expenses, the forgivable amount may be low.
https://www.jdsupra.com/legalnews/paycheck-protection-program-faqs-for-4622690/

Can You Get Both Unemployment and the PPP?
You can take advantage of both unemployment benefits through the PUA and funding through the Paycheck Protection Program, but not at the same time. As the PPP’s name implies, the program was designed to keep workers employed. If you receive a PPP loan, you will need to report the money you receive from the PPP as income to your state’s unemployment agency. That will likely render you ineligible for unemployment. Once you spend your PPP, you could go back on unemployment if your business still isn’t open.

https://helloskip.com/blog/can-you-get-the-ppp-and-unemployment/

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24 comments

  1. i teceived a ppp loan but to pay employees not myseld so can I still collect pua ?

  2. Mr David Ashley

    1. CA HAS NOWHERE TO CERTIFY THE MONEY!
    2. Independent Contractors are not employees, so can't pay yourself like one.

    Go see JJ The tax guy video about this same thing.

    3. Some states specifically have questions on their certification process that say ye or nay…but CA does not, so there NO WAY TO REPORT IT!

  3. Can I work a second job (not associated with my business) while I receive ppp

  4. Hello,So if PPP doesn't count as income why do we have to report it to unemployment?

  5. J back At it

    We’re can I sign up and get help signing up

  6. Hey-Os! Productions

    Thanks for the video. Question. I have a couple projects that I need to work on and for that I need labor. Can I use the PPP loan money (100% of the money) to pay whoever I hire to complete these projects and still receive unemployment?

  7. Wali Muhammad

    I need help. I was just approved for the 1st draw ppp only 1,845. I also received pua my wba is 198 and can’t make over $99. My question can or should I receive the ppp loan.

  8. Michael Joseph

    Well explained. Thk u. Awesome video

  9. Alicia Coury

    If you decide to do both then use the allowed 40% of the PPP funds for allowed expenses that way only 60% will count against your unemployment benefits

  10. Candice Crockford

    Good break down. BLESSINGS 🙌
    CALI

  11. TheresaHoopDancer

    Thanks for getting straight to the point

  12. I received my stimulus check from Dlighthacks0 via te!egram it legit

  13. Mimya Andersen

    PPP is a loan. For schedule C fillers (self employed which is mostly ones who are receiving unemployment through PUA as they won’t have a W-2 to be eligible for their state employers funded unemployment) The amount you receive does not appear on your schedule C as business income. PPP is not taxable so it does not increase or decrease your income on line 7 of your schedule C. My state said only income paid as wages is reportable.

  14. That was great video .q with pua do you just filling weekly or report you get ppp ?? If so how much we report each week

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  20. David Yaccarino

    Ppp is a loan. You can get both. I called Arizona unemployment and they said it’s not wages it’s a loan.

  21. The Company of Eagles

    What is your opinion of PPP being back pay, paid for time not paid before receiving PUA?

  22. African Tube

    Thank you, buddy keep going your helpful for us🙏🙏

  23. LaTosha Stanfield

    The short answer is yes

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