Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 732
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:
Family offices likely to add risk, debt and alternatives under the next generation
SpaceX records $561 million investment gain from stake in Elon Musk's Boring Co.
Elon Musk invests about $1 billion in Skydance
Etsy bans AI-generated recipes and patterns from its online marketplace
Movie: Tenzing
Book: A Short Stay In Hell
The Diplomat: Redcoats
Brent crude oil tops $116, a six-month high, as tensions swell in the Middle East
Stocks open lower as oil tops $100 amid escalating Iran tensions: Live updates
Fewer people are flying as airfare soars. Here's why airlines aren't worried