Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 524
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:
Tips for Parenting at a dual language school (non native)
Private companies added just 44,000 workers in July, below expectations, ADP reports
Warren presses Lutnick over UAE access to sensitive U.S. tech after Trump crypto investment
SpaceX gives Nvidia a much-needed boost. Plus, Cramer on an 'undervalued' stock
Manager of DRAM memory chip stock trade blockbuster ETF is back with new AI thematic bet
Gift for a 7 year old in Europe
Uber stock sinks 7% after weak guidance despite revenue growth
SpaceX stock falls 7% after AI spending surge rattles investors
Movie: The Outrun
Stargate SG-1: The Warrior Rewatch