Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 279
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:
Bill Ackman built Microsoft stake in first quarter during sell-off, betting on AI and cloud growth
Jim Cramer fears SpaceX's IPO could be 'destructive' for the rest of market
Why J&J thinks its new psoriasis pill could be one of its biggest drugs ever
Trump says China and Taiwan should 'both cool it'
Trump touted Palantir on Truth Social after buying the company's stock, records show
Fellow Californians, How are You Handling the Governor Primary?
Good Omens: The Finale
Widow's Bay: Beach Reads
The Boys: The Frenchman, the Female, and the Man Called Mother's Milk
For better or worse, investors are living through Trump’s stock market. Here's why