Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 789
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:
Cathie Wood 'always feels better when the market is worried' — here's why
Mark Cuban says he doesn’t ‘give a f---' about growing his net worth—a healthy mindset for non-billionaires too, a financial therapist says
World’s No. 1 restaurant crowned as contest comes under increasing scrutiny
Poppi founders are going after PepsiCo's Gatorade with new beverage startup Jetty
Credit feels harder to get. Here’s what to do before applying for a new credit card
Anthropic IPO meets AI backlash after midterms show stinging rebuke of data centers
VisionQuest: Immolation
Book: Public Access Afterworld
Movie: Stuff & Dough
The Gilded Age: Ring the Bells