Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 553
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:
Ferrari Luce: Polarizing EV becomes a $40 million collector’s item
Between earn-nothing cash, broken long-term bonds, these are the safety trades of 2026 market
Lamborghini unveils Revuelto SV, its most powerful production car ever
Proof of Canadian citizenship for grandparents?
Movie: Clear History
Rick and Morty: Rick Fu Hustle
Meta faces ‘astronomical’ consequences as legal fight reaches critical moment in California
Stanley Druckenmiller loaded up on Amazon and chip stocks before July rout
College can cost $100,000 a year. Here's how families are covering the tab
Prediction market traders see roughly 1-in-4 odds Paramount’s bid to buy Warner Bros. Discovery fails