"This situation has left many self-employed individuals wondering if it would make more sense for them to apply for a PPP loan or to file for unemployment.
Almost all self-employed taxpayers
with their own employees
will receive more money through PPP (not counting shareholder-employees of C or S-corporations). However, for self-employed individuals
, whose typical profit and business expenses combined are less than $950 per week, the simplest option is to seek unemployment benefits.
These people will be able to completely recover their lost income and business expenses via unemployment benefits, with no limitations on how they spend the received funds."