Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 311
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:
Weekend in Austin, TX without rental car, good idea or not?
Asia’s rich fear losing the family fortune — but many still have no succession plans, survey shows
Costco issues a lukewarm quarter, but delivers on the metric that matters most
LG Electronics' shares surge 24% after showing automotive innovations using Google tech
The Terror: The Devil in Silver: A Number in the System
Samsung's shares surge as much as 6% after company ships next-generation AI memory chip samples
In search of really, really nice (US-sized) composition notebooks
Movie: Backrooms
Costco says it saw 'record-breaking' gas volumes amid rising prices
Book: The End of Average