Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 493
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:
Buffett favors an estate tax, but like virtually all billionaires, he won't be paying it
Morgan Stanley says buy these stocks ahead of their earnings, before it's too late
Trump sued hours after new tariffs take effect, as experts say they may not hold up
Major quake hits southern Japan, workers missing after mall blast
UPS expects third-quarter domestic revenue to be flat but CEO tells CNBC the company is through its 'bumps'
Iran hosts Hormuz calls with Saudi Arabia, Oman as Trump hails ‘good talks’
Boeing posts wider loss than expected as Air Force One costs weigh on results
Bitcoin may be showing signs of a bottom despite continued consolidation, chart analysts say
Visa is cutting 7% of employees in efficiency push as AI reshapes work
Book: Look to Windward