Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 621
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:
How one Silicon Valley firm is seizing an opportunity from Premier League soccer's gambling ad clampdown
Big week coming up with PCE, Nvidia earnings and then Jackson Hole. Here's what to expect
'A delicate dance': JD Vance says economic pressure is the best way to achieve Washington's objectives in Iran
International student enrollment falls amid tighter U.S. visa policies, reports show
Book: Why I Love Horror: Essays on Horror Literature
Book: Red Dragon
Special Event: The Riffs of Isle of Rangoon: Technology
Ted Lasso: Richmond's Got Talent
Movie: Contact
Supreme Court allows Trump to continue White House ballroom construction for now