Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 187
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:
India's KFC, Pizza Hut operators to merge in $934 million deal
Warren Buffett is stepping down as CEO after 60 years. For a successful career, 'don't worry' about your salary early on, he says
Best credit cards to help you meet your New Year’s resolutions
Tesla reports 418,227 deliveries for the fourth quarter, down 16%
China’s ‘Silicon Valley’ is building robots and fortune-telling AI apps at the same time
U.S. attacks Venezuela, captures Maduro and his wife; AG Bondi says charges include 'Narco-Terrorism'
Anthropic's 'do more with less' bet has kept it at the AI frontier, co-founder Amodei tells CNBC
Behind the mesh curtain: Why airline class wars will intensify in 2026
These are the most overbought and oversold stocks in the S&P 500 as 2026 begins
U.S. indictment against Venezuela President Maduro, wife is unsealed