Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 525
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:
Kids Online Safety Act social media safety bill advances in Senate
Anthropic's Mythos created fake identities to fool humans in new cyber incident
Private companies added just 44,000 workers in July, below expectations, ADP reports
Oil prices fall on negotiations to manage ship traffic in Strait of Hormuz
Abdul El-Sayed wins Michigan Democratic Senate primary as voters pivot to the left
Movie: Mermaid
Pneumonia, Asthma, Prednisone, oh my...
Disney weighs free, ad-supported streaming, says it has sold out Super Bowl ad spots
Movie: The Outrun
Movie: The Temptation of St. Tony