Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 733
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:
Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
Our top 10 things to watch in the stock market Friday
On the ground at Nvidia's AI showpiece: Jensen-mania, robot ducks and neocloud distress
Higher interest rates have made family offices pickier about investing in real estate
Now is your last chance to qualify for a Southwest Companion Pass with a credit card bonus
Weird '80's childhood memory or totally normal?
The Ultimate End All Be All of Final Girl Movies
Book: A Short Stay In Hell
American Express is cutting 5% of its workforce to 'prepare for AI'
Fewer people are flying as airfare soars. Here's why airlines aren't worried