Lay myself off or not?

Post date: 2020-04-01 11:24:22
Views: 652
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:
Flight disruptions ease at Newark, Philadelphia airports following equipment outage
Buy the dip on GE Healthcare, says Needham
OpenAI proposes development of global AI standards to guide alignment, RSI
Book: Murderland: Crime and Bloodlust in the Time of Serial Killers
Lanterns: Bad Optics
No new stock highs, no problem: Options traders bet they're coming in these names
Secondhand clothes-shopping and environmental impact
How would you make the most of a micromanaging supervisor?
Nasdaq climbs to fresh all-time high; S&P 500 is little changed as traders monitor Middle East tensions: Live updates
Meta's quick success with Muse puts consumers back in the driver's seat of the AI trade