Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 798
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:
Chris Van Hollen announces run for U.S. Senate majority leader, challenging Schumer
Nvidia scandal draws in Commerce Secretary Lutnick, who reportedly agrees to testify about China chip sales
Who will replace Jensen Huang? Here's our early thoughts on the search for Nvidia's next CEO
Nscale updates IPO prospectus that shows widening loss
Black Market White Milk
What's ahead for AI financing after Nvidia CEO Jensen Huang departs
Movie: Prime Minister
Movie: Linda Linda Linda
Line of Fire: Guest List
Wholesale prices rose 0.3% in October, slightly less than expected