In the January 15, 2021 edition of the Midlands Business Journal, Fraser Stryker attorney Mark Brasee was quoted in an article entitled “Businesses may deduct expenses paid with PPP Loans”, by David Kubicek. In the article, Brasee discusses the benefits of the PPP loan program for employers and employees. “The structure of the PPP is a quick way to get money out to employees through their work relationships” said Brasee. “Banks are used to dealing with loan programs and the federal government, businesses are used to working with banks, and employers are used to getting out payments to their employees in an organized way.”
Brasee also addresses a requirement of the second draw PPP loan program, “One of the critical requirements of a second draw PPP – borrowers who took advantage of the first loan – is that it needs to have 25% less gross receipts in any quarter in 2020 as compared to the same quarter in 2019.”
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Mark Brasee represents a broad spectrum of clients, including companies in a wide range of industries, entrepreneurial startups, nonprofits, and individuals throughout Nebraska and across the region. Since the COVID-19 outbreak, Brasee spends time analyzing the constantly changing legal developments to help businesses understand and navigate the government assistance options available. Brasee has written a variety of COVID-19 resource articles to address these changes, which can be found in the Fraser Stryker COVID-19 Resource Center.
Prior to joining the Fraser Stryker in 1994, Mark Brasee worked as an accountant for a top-tier accounting firm where he focused on corporate taxation and banking. This helped create the foundation for his practice, which concentrates on business and corporate law, real estate law, commercial agreements, finance, taxation, business-succession, and estate planning.