Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 775
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:
UBS pre-tax profits jump 27% to $3.59 billion in the third quarter
Amex Platinum and Business Platinum add Airbnb perks, but lodging credit rules are tightening
SK Hynix shares jump 11% after record quarterly profit, outperforming broader market
Trump says Iran war will end 'when I want it to' as costs reportedly balloon to $47 billion
Art and other things in cans
Tengo una pregunta para hablantes de español
St. Louis Fed's Musalem: Another rate hike needed 'soon'
'Bad time to troll': Binance cofounder Changpeng Zhao asks Elon Musk for 'respect' after post about bitcoin hack
Stargate SG-1: Allegiance Rewatch
Special Event: Rifftrax: PLAN 9 FROM OUTER SPACE