Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 758
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:
Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
I just bought this pharma stock for its next generation of blockbuster drugs — and its dividend
UBS pre-tax profits jump 27% to $3.59 billion in the third quarter
Amazon's anti-tokenmaxxing memo says engineers should be pickier about using AI
SK Hynix shares jump 11% after record quarterly profit, outperforming broader market
Chart: Anthropic's cash pile towers over nearly every U.S. company
I planned ahead yet am still last minute
Special Event: Rifftrax: PLAN 9 FROM OUTER SPACE
Movie: Primetime
The Diplomat: Special Envoy