Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 280
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:
Jim Cramer fears SpaceX's IPO could be 'destructive' for the rest of market
Trump says Xi agrees Iran must open strait, but no sign China will weigh in
Berkshire's new CEO overhauls portfolio, dumping a slate of stocks
Can you help me learn to make 3D shapes out of paper?
Comedown after fun events
Special Event: Eurovision 2026: The Grand Final
Widow's Bay: Beach Reads
Book: Don Quixote, chapter 3
For better or worse, investors are living through Trump’s stock market. Here's why
Global oil stockpiles could hit record lows if Strait of Hormuz remains closed