Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 549
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:
What will TV look like in three years? Media insiders share their predictions
The two 'HALO' stocks that haven't left Josh Brown's list since being added earlier this year
Russia targets Danube port after one of Ukraine’s largest aerial attacks of the war
Lamborghini unveils Revuelto SV, its most powerful production car ever
Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations
Trump threatens to 'bomb' Oman if it 'gets in the way' as U.S.-Iran ceasefire expires
Supreme Court again rejects Trump bid to overturn E. Jean Carroll verdict
'Y'all Street' is booming. Wells Fargo says this regional bank stands to benefit
What the results of a Connecticut congressional primary race may mean for Social Security
College can cost $100,000 a year. Here's how families are covering the tab