Lay myself off or not?

Post date: 2020-04-01 11:24:22
Views: 169
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:
Sales of new homes tanked in May, pushing supply up to a 3-year high
Deep inside U.S. economy, more sticker prices start going up due to tariffs, and inventory is headed down
Sweat is hurting my face
Wednesday's child is full of what?
I need to speak to a human at microsoft
Supreme Court upholds Texas adult website age-verification law
Nvidia heads for 5-day win streak as it hits record highs
Blockchain-driven platform to mimic stock trading, allowing users to buy shares of SpaceX, other hot private companies
Rubrik agrees to buy AI startup Predibase for over $100 million
Women's Tennis Association extends media rights deal with Tennis Channel through 2032