Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 287
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:
We traded our smartphones for flip phones for 4 days—and learned that ditching modern technology is harder than it sounds
Sundheim's D1 Capital bought several tech stocks last quarter — with one big exception
FDA shuffles top drug, biologics leaders in latest shakeup
Trump touted Palantir on Truth Social after buying the company's stock, records show
Are there any good free VPNs?
The Terror: The Devil in Silver: Disturbed
Top Chef: Hook, Line & Dinner
Bon Appetit, Your Majesty: Full season
Kevin Warsh comes into the Fed facing a big 'family fight' over cutting interest rates
This federal program trains older workers. The Trump administration wants to cut it