Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 628
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:
Tehran won’t surrender to the U.S., Iranian President Pezeshkian says, as India's Modi urges dialogue and peace
Obama voices caution on AI, urges Democrats to tackle it, NYT says
China's Xi urges BRICS nations to work towards peace in the Middle East
Snowpiercer: A Single Trade Rewatch
Movie: Hope
Realistic LSAT practice questions
What is the name for the relaxation/sleep music I'm looking for?
Any recommendations of what to do in Paris.
Baker Hughes sees no slowdown in energy projects despite higher rates as AI buildouts stoke LNG demand
Sub-$100 smartphones becoming a rarity as AI memory prices soar