Lay myself off or not?

Post date: 2020-04-01 11:24:22
Views: 584
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:
Tesla recalls 3 million vehicles in China over doorhandle safety, driver monitoring
The Los Angeles Lakers sold for $12.5 billion. Here’s what every NBA team is now worth
How one Silicon Valley firm is seizing an opportunity from Premier League soccer's gambling ad clampdown
Energy sector is in focus because of Iran, AI and California. Here are hedge funds' top plays
Trump admin taps former JPMorgan Chase exec Matt Zames to advise Social Security agency
Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
Movie: Meda or The Not So Bright Side of Things
Book: Listen to Your Sister by Neena Viel
Movie: Contact
U.S., Canada fail to reach a tariff deal, deepen trade war