Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 491
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:
Silo: Whatever You Do, Don't Go Home Show Only
Music killed the video stream
These stocks have momentum on their side heading into earnings, including Amazon
Logistics giants are racing to keep up with healthcare boom as GLP-1s highlight need for cold storage
Coca-Cola hikes full-year forecast. CEO tells CNBC the World Cup boosted its brands
UPS expects third-quarter domestic revenue to be flat but CEO tells CNBC the company is through its 'bumps'
SpaceX stock-purchasing by Congress members fuels conflict concerns
Amazon, Meta and Microsoft face skeptical investors this week after Google report sparked sell-off
Iran hosts Hormuz calls with Saudi Arabia, Oman as Trump hails ‘good talks’
Trump: New tariffs 'doing the same thing' as the ones struck down by Supreme Court