Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 397
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:
JetBlue to reduce Newark, LaGuardia footprint as it forges ahead in Fort Lauderdale
Game Changer: Night Shift
What would happen if the POTUS started shooting people in the streets?
auto shop keeps postponing major repair
Separating hobby and work
Here are the five big takeaways from Kevin Warsh's first meeting as Fed chairman
Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal
CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
How Elon Musk's second-in-command Gwynne Shotwell helped turn SpaceX into an IPO giant
Amazon AI exec predicts first 'commercially useful' quantum computers in 5-7 years