Zip Code 33109 Fisher Island
The Paycheck Protection Program was sold to protect workers in small businesses to keep them from being laid off.
At the end of eight weeks, you'll have to show your lender proof of your expenses during that period.
You will not have to pay back the loan
so long as you use at least 75% of the money you get on payroll costs
(including wages, benefits, payroll taxes plus state and local wage
taxes). and the rest of the funds are spent on your business' rent
payments or mortgage interest, utilities and other overhead expenses.
The money must be spent in the first eight weeks after you receive the
loan.
In other words, if you spend
the borrowed money for authorized purposes over the first two months of
the loan, that obligation will be forgiven. And the amount forgiven will
not be treated as taxable income to you.
At the end of eight weeks, you'll have to show your lender proof of your expenses during that period.
Payroll costs eligible for forgiveness may not exceed $100,000 per employee.
From the Miami Herald:
Fisher Island is reportedly the richest zip code in the U.S.A. Located off the tip of Miami Beach and accessible only by private yacht or ferry, Fisher Island Club & Resort is one of the most exclusive private membership clubs in the world, catering largely to the 1300 residents of Fishers Island.
From Forbes Magazine:
Of course, we have a budget,” Bernard Lackner waving out towards the grass and clay tennis courts. “But it’s a big budget.”
From: bernardlackner.com:
A native of Germany with over 35 years of expertise in ultra-luxury hospitality and private club management, I am the chief executive officer of Fisher Island Club.
The club has a staff and because of COVID19 the club is closed.
The Fisher Island Club, where memberships cost $250,000, is asking its members on the ritzy island near Miami to vote on whether they would prefer for the club to accept a federal small business loan or to assess each member an additional $5,000 this year.
In an email Monday, the club gave members until Wednesday at 5 p.m. to cast their vote, presenting it as a choice between potentially laying off club employees and having members pay more money.
My condominium association doesn't have a staff but more than a few owners or renters are out of work through no fault of their own and it looks like unpaid maintenance fees might become a problem next month.
From the Miami Herald:
Fisher Island is reportedly the richest zip code in the U.S.A. Located off the tip of Miami Beach and accessible only by private yacht or ferry, Fisher Island Club & Resort is one of the most exclusive private membership clubs in the world, catering largely to the 1300 residents of Fishers Island.
From Forbes Magazine:
Of course, we have a budget,” Bernard Lackner waving out towards the grass and clay tennis courts. “But it’s a big budget.”
From: bernardlackner.com:
A native of Germany with over 35 years of expertise in ultra-luxury hospitality and private club management, I am the chief executive officer of Fisher Island Club.
The club has a staff and because of COVID19 the club is closed.
The Fisher Island Club, where memberships cost $250,000, is asking its members on the ritzy island near Miami to vote on whether they would prefer for the club to accept a federal small business loan or to assess each member an additional $5,000 this year.
In an email Monday, the club gave members until Wednesday at 5 p.m. to cast their vote, presenting it as a choice between potentially laying off club employees and having members pay more money.
My condominium association doesn't have a staff but more than a few owners or renters are out of work through no fault of their own and it looks like unpaid maintenance fees might become a problem next month.
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