Lay myself off or not?
Post date: 2020-04-01 11:24:22
Views: 484
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:
Alphabet's decline happening at crucial time for stock, raises stakes for next megacap earnings
Albertsons stock plunges as it says weaker grocery spending will cut into sales and earnings
Google slapped with $1 billion fine under landmark EU digital law
Weird Donation Split?
Silo: A Dark Web Show Only
Moonshot AI accessed Nvidia's chips despite Chinese export ban, White House official says
Eli Lilly says it will file for approval of next-generation obesity drug in 2027 as it clears two more trials
Traders see September rate hike as European Central Bank mulls energy price spike
X-Men '97: Danger.Exe
Movie: The Children's Hour