Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 462
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:
Elon Musk likely broke the law by giving voters $1 million, Wisconsin board says
Help with vegetarian meal prep (post root canal)
Special Event: Rifftrax: BLACK BELT ANGELS
Movie: The Odyssey
Stocks tumble, head for losing week, led by chipmakers; Netflix plunges: Live updates
Here’s the inflation breakdown for June 2026 — in one chart
Lucid dismisses report that it is weighing filing for bankruptcy or going private after shares plunge
Bipartisan group of senators propose Social Security reform process ahead of funding shortfall
Apple in talks with startup that shrinks AI models to run on an iPhone
Warren Buffett is accelerating his charitable donations with aim to give away Berkshire wealth by 2034