December 2020 Short Bits

December 2020 Short Bits


Earlier this year, the U.S. Department of Labor adjusted their rule on who is eligible for overtime pay. The new rule updates earnings thresholds required to make executive, administrative and professional employees exempt from overtime. These employees will now need to earn at least $684 per week as a salaried employee and a portion of nondiscretionary bonuses and incentive pay, like commissions, can be used to meet the minimum salary requirement.


Most U.S. coins are stamped with a letter code to show which branch of the U.S. Mint made the coin. However, the Philadelphia branch doesn’t always use a stamp because it was the first Mint branch. And no marks were used from 1965 to 1967. But today, most coins, except those made in Philadelphia, carry the stamp of their creator.


Less travel due to the coronavirus pandemic has reaped huge rewards for the planet. According to joint studies by NASA, the European Space Agency and the Japan Aerospace Exploration Agency, air quality improved in parts of Europe with a 50% reduction in air pollution and a 30% reduction in the Northeast US. Similar improvements were seen in parts of India and China.


The U.S. Department of Labor is providing $100 million to support states in combating and uncovering unemployment fraud. The funds can be used to complete fraud investigations and to implement tools to detect and recover improper pandemic unemployment payments and states are encouraged to adopt new fraud prevention strategies to protect the integrity of their unemployment insurance programs.

is the largest, locally owned public accounting firm in San Antonio, Texas, with branch offices in Boerne and New Braunfels. We have been serving our community since 1991. We are a full-service CPA firm dedicated to providing a broad range of tax, audit, bookkeeping, tax controversy, and consulting services with superior customer service to help our clients meet their goals and objectives. Please click here to set an appointment with us.

Have Any Questions?