Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 206
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:
Pentagon to invest $1 billion in L3Harris rocket motor business, shares surge
Bank of America boosts Micron price target, sees upside driven by tight memory supply
BNY raises profit target as CEO Robin Vince says 'turnaround' is taking hold
Salesforce releases updated Slackbot powered by Anthropic's AI model
New York offshore wind project to resume construction after judge lifts Trump suspension
DeepMind CEO is talking to Google CEO 'every day' as lab ramps up competition with OpenAI
AI startup Replit launches feature to vibe code mobile apps
Trump pitches direct payments to consumers for health care. What policy experts say about the plan
Japan's Mitsubishi to acquire shale gas assets in U.S. for $7.5 billion
Amazon threatens 'drastic' action after Saks bankruptcy, says $475M stake is now worthless