Lay myself off or not?

Post date: 2020-04-01 11:24:22
Views: 349
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:
Tire giant Pirelli vows legal action as short seller alleges ‘close relationship’ with Russia
CrowdStrike narrowly beats estimates on AI tailwinds, but stock falls 10%
As Honeywell Aerospace readies for its stand-alone debut, its CEO is forecasting big growth
Interesting Quiet/Lesser Known Places To Go In Europe
As the largest World Cup ever kicks off, health officials are focused on more than Ebola
Star City: The Eyes
Book: Dungeon Crawler Carl Book 8: A Parade of Horribles
Micron, Marvell, and Broadcom sink, leading chip stocks lower
Amazon engineers in Seattle slam employer for building AI data centers while laying off 30,000 staffers
SpaceX IPO hype has traders flocking to this mid-cap stock