Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 743
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:
Democratic socialist set to become D.C. mayor — and face Trump's pushback
Defense giant Saab sees orders triple after Gripen fighter jet deal with Ukraine
Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Now is your last chance to qualify for a Southwest Companion Pass with a credit card bonus
Elon Musk invests about $1 billion in Skydance
Movie: The Leopard Man
Stargate SG-1: The Other Guys Rewatch
Crystal Lake: The New Blood
10-year Treasury yield drops back to 5% this week as investors seek cover from AI worries
Fewer people are flying as airfare soars. Here's why airlines aren't worried