Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 362
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:
Analysis: Chairman Kevin Warsh’s task forces are the key to understanding the new Fed
Chairman Warsh abstains from giving rate forecast as several members signal a hike in 2026
'Passive' investors who dodged bitcoin are now forced to own SpaceX, which is three times more volatile
Fed holds rates steady, pares down statement to remove cutting bias
Earth Wind and Fire - To Be Celestial vs. That's the Weight of the World
Trump and Iran's President Pezeshkian sign memorandum aimed to end war
Unconventional lifestyle people: what those assets do?
Reverse dupe jewelry question
China to return as major oil buyer in August, JPMorgan says, naming its top stock picks
Jeffrey Gundlach says Fed's Warsh is not going to be the 'easy money' chairman many hoped for