Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 704
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:
Airfare is 23% higher than last year. Is now a good time to use points for flights?
Trump doesn't think Russia plague incident is bioweapon, plans Putin call Wednesday
Cramer says higher rates are splitting the market in two — and AI stocks have a big advantage
Trump trade chief Greer reports higher cash holdings as law firm pay topped $650K
Microsoft to sell $2,599 Surface Laptop Ultra containing Nvidia AI chip
Slow Horses: Lost and Found
Snowpiercer: A Moth to a Flame Rewatch
Line of Fire: Pilot
Snowpiercer: Bell the Cat Rewatch
Samsung forecasts record third-quarter profit of $80 billion as AI boom fuels chip demand