Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 609
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:
Yields had a big week. Why these moves may be reminiscent of 1987
As GOP warns data centers put Ohio Senate seat at risk, Husted defends energy policy
Kalshi traders think the bitcoin rally could end the year near current levels
Why some of America's biggest brands are losing ground in China
International student enrollment falls amid tighter U.S. visa policies, reports show
Movie: American Doctor
Book: The Lives Of The Muses: Nine Women & the Artists They Inspired
Movie: Pictures of the Old World
Stargate SG-1: Sentinel Rewatch
Movie: The Swindle