Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 714
Should I lay myself off? Coronavirus edition.

I am a freelancer working in an industry that has dried up overnight. Last year, I incorporated, so I am now the president of an LLC with one employee (also me). I generally pay myself once a month. I'm already unable to make payroll.

Given the financial relief currently available due to The State of Things, am I, the owner of this company, better off laying off my employee (me) so she (I) can collect unemployment? Or should I apply for relief for the business itself? How do I make this decision? What would I even be eligible for?

(I cannot believe that I can't get a straight answer from either my accountant or my financial advisor, but here we are.)
Number of Comments
Please click Here to read the full story.
 
Other Top and Latest Questions:
Inflation fears on the rise as one-year outlook in Fed survey hits highest level since May 2023
Supertanker chartered from Gulf Coast to China for $76 million, 10 times higher than pre-war level
Barclays sees big haircare gains for this consumer stock as shoppers prioritize self-care
Inside India newsletter: Food crisis, economic shock ahead as India braces for El Niño
FCC to vote on auctioning 25MHz of 'prime spectrum' in move that could benefit Amazon, SpaceX
Online, self paced computer skills class for TOTAL beginner?
Ted Lasso: Being Alive
The Great British Bake Off: Biscuit Week
TSMC September sales hit another record as AI boom rolls on
Oil gains as Middle East hostilities, potential escalation stoke supply worries