Tue11252014

Business & Real Estate

State's top tax debtors owe $129 million

The California Franchise Tax Board recently updated its Top 500 Delinquent Taxpayers list, revealing that 316 individuals and 62 businesses owe the state more than $129 million in combined income taxes.

In August, the Franchise Tax Board sent letters to 500 taxpayers scheduled to appear on the list if they failed to resolve their tax debts. Prior to the list’s publication, 122 taxpayers resolved their accounts. The Top 500 list is published every April and October. Being on the Top 500 Delinquent Taxpayer list carries added provisions:

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New State Street retailer takes shape


Ellie Van Houtte/Town Crier
Jane Kim opened ettim at 253 State St. last month.

Ettim, the custom women’s shapeware retailer, is a household name in Korea, and a local entrepreneur wants the brand to uplift the lives of American women as well.

After stepping away from a similar business 10 years ago, Saratoga resident Jane Kim launched ettim at 253 State St. in Los Altos last month.

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Stocks surge to all-time highs

Boosted by third-quarter earnings reports, stocks of most classes bounced from lows in mid-October to new record territories.

As long as economic growth remains decent and consumer sentiment high – it’s the highest since July 2007 – investors should feel confident and dismiss concerns about a slowing economy.

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How some spend more than they earn

The Wall Street Journal recently ran an article about affluent individuals and families who, despite high six-figure salaries, managed to pile up a huge amount of debt. They cited one woman who had accumulated $300,000 in debt despite earning more than $200,000 a year.

Readers’ responses, unsurprisingly, were variously indignant, angry and puzzled. Many couldn’t understand how it’s even possible to spend that much more than one’s income.

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Transactions

Los Altos

2049 El Sereno Avenue, J. Tong to W. Tong for $1,600,000

1453 Lloyd Way, Z. Sun to M. Stattler for $1,500,000

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MLS reports sharp median price increases

Large swings in median price and closed sales appear to characterize most of the housing markets in Silicon Valley over the past year, according to the latest MLS report.

Month-to-month activity is leaning toward a more moderate market with a strong demand, officials reported.

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Local realtors scare up money for charity


Photo courtesy of SILVAR
Realtors Gary Campi and Jordan Legge, from left, joined Nancy Domich, SILVAR President Dave Tonna and Joe Brown to raise funds for the Silicon Valley Realtors Charitable Foundation.

Los Altos and Mountain View realtors raised $4,650 Oct. 17 for the Silicon Valley Realtors Charitable Foundation during its second annual pumpkin auction.

The foundation offers grants for individuals and organizations, including scholarships for graduating high school seniors, funded by donations from realtors, affiliate members and friends.

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