Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 761
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:
Meta- and Google-backed Jio Platforms’ shares soar over 21% on trading debut after record IPO
UBS pre-tax profits jump 27% to $3.59 billion in the third quarter
Polymarket faces renewed CFTC probe over U.S. access to offshore platform
CNBC 2026 Workforce Executive Summit takeaways: How AI is transforming jobs, hiring, and employee benefits
How investors can position ahead of the Fed's next policy decision
Labubu-maker Pop Mart's shares extend declines as third-quarter sales plunge
SK Hynix shares jump 11% after record quarterly profit, outperforming broader market
Neil Young sues Trump committee for $10M for playing 'Rockin' in the Free World' at rally
mouse/keyboard config via webpage - security concerns?
Movie: The Cycle