Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 209
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:
Elon Musk says Tesla taking safety supervisors out of some Robotaxi vehicles in Austin
Advisors to the ultra rich say AI isn't a gamechanger for landing new clients
What does it mean for a credit card to devalue? How to protect your rewards
Trump signed his Gaza 'Board of Peace' into being. Here's who's on it — and who isn't
House passes final funding bills 8 days before shutdown, Senate now will consider
Social Security has 'no bankruptcy or collapse in the cards,' economist says — but benefits may change
Airlines cancel hundreds of flights as massive winter storm sweeps across U.S.
What obesity drugmakers see next in the market: More pills, easier access and drug combinations
Pardoned Binance founder Zhao says his business relationship with the Trumps was 'misconstrued'
Trump policies to boost low-end consumer into the midterms, says JPMorgan. These stocks will benefit