Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 600
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:
Bessent's bond gambit aimed at calming markets is instead stirring inflation worries
As GOP warns data centers put Ohio Senate seat at risk, Husted defends energy policy
Big week coming up with PCE, Nvidia earnings and then Jackson Hole. Here's what to expect
An overlooked AI winner names a new CFO — plus, Nvidia's key earnings loom
Accordia Bank is offering a 5.00% APY booster on high-yield savings account for its rebrand — how to get it
Answered: The content and articles of my q2a site are being pulled by fake sites. Can you help me to solve this problem?
Book: Purgatorio: Canto 30
Movie: Pictures of the Old World
Book: Listen to Your Sister by Neena Viel
Ted Lasso: Richmond's Got Talent