Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 328
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:
Hidden beneath AI chips, Chinese-made circuit boards raise national security concerns in U.S.
Why institutional investors are returning to retail 'in a very big way'
Tire giant Pirelli vows legal action as short seller alleges ‘close relationship’ with Russia
India's viral 'Cockroach' party has millions of followers. What investors need to know
Barclays traders say it's time to buy protection for a tech-led S&P 500 pullback
Dell Optiplex with Kubuntu
Top Chef: Plate Expectations
Star City: A Bear on a Chain
Blackstone restricts flagship fund withdrawals as private asset fears reemerge
Jim Cramer's top 10 things to watch in the stock market Thursday