Lay myself off or not?

Post date: 2020-04-01 11:24:22
Views: 243
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:
Opinion: Block's layoffs might just be the biggest story of a tumultuous week. Here's why
Gen Z is embracing the prenup, says family law attorney: ‘The taboo of divorces is long gone’
World's largest sovereign wealth fund's bets on Big Tech and banking drive gains
UK PM Keir Starmer suffers major blow after his party comes third in key vote
UBS turns bullish on Palantir, says buy the dip on this clear AI winner
Movie: White Sun of the Desert
OpenAI announces $110 billion funding round with backing from Amazon, Nvidia, SoftBank
Apple appears to be sitting out the AI arms race. Will the strategy work?
Trump Media in talks to spin off Truth Social from DJT into independent stock
This obscure ETF may hold the key to whether the bull market lasts