Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 248
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:
Russia and Ukraine agree local truce to allow repairs at Europe’s largest nuclear power plant
UBS downgrades the U.S. stock market. Here's what has the investment bank worried
Netflix ditches deal for Warner Bros. Discovery after Paramount’s offer is deemed superior
This obscure ETF may hold the key to whether the bull market lasts
Special Event: MetaFilter Board Town Hall
Gen Z is embracing the prenup, says family law attorney: ‘The taboo of divorces is long gone’
How high can oil and gas prices go because of the Iran war? Here are the scenarios
OpenAI's Altman admits defense deal 'looked opportunistic and sloppy' amid backlash
Special Event: Taylor Tomlinson: Prodigal Daughter
Saturday Night Live: Connor Storrie/Mumford & Sons