Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 229
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:
Couple bought a 140-year-old New Jersey home for $550,000 and spent $172,000 renovating it—take a look inside
Berkshire Hathaway outperforms this week as tech stocks sink
In reversal, Trump backs Nexstar's proposed acquisition of Tegna
Hims & Hers pulls copycat weight-loss pill after threats of legal action
Elon Musk wants to be a trillionaire — here's how SpaceX may get him there
NFL plans to have discussions with partners outside of core media for live games, media chief says
U.S. plans initial payment towards billions owed to the UN, envoy Waltz says
Japanese Prime Minister Takaichi's ruling LDP set to secure supermajority in Lower House: NHK
Goldman Sachs says this under-the-radar biotech play could more than double in value
Japan's Nikkei 225 skyrockets over 5% to hit record highs as Takaichi secures historic mandate