Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 510
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:
Investors may want to focus on front end of yield curve — as Street anticipates next Fed meetings
How Leopold Aschenbrenner built a $45 billion AI hedge fund — and lost most of it in days
Book: Purgatorio: Canto 27
Special Event: Rifftrax Shorts: Educational Credit
Book: The Headache by Tom Zeller Jr
Stargate SG-1: Fail Safe Rewatch
To keep growing, incoming Best Buy CEO says he first wants to go smaller
These stocks reporting next week have a history of beating expectations
Buy these stocks ahead of earnings. Bank of America says they offer plenty of upside
EV prices aren't following the 'law of used cars,' analyst says — what it means for buyers and sellers