Business News
“It is hard to believe we've been open two years, it has been a whirlwind of toys and games and kids,” said Jennifer Nunn, co-owner of Funtopia.
Added her business partner and husband, Jason Curtis, "But what better reason for having a party!"
To celebrate their two-year anniversary, and to thank the community for supporting their selection of unique toys and games, Funtopia is throwing a party and sale on Saturday, Feb. 23rd, starting at 10 a.m.
And to mark the occasion, the couple will be unveiling a new sign.
“We moved to our new location at 21208 Calistoga St., right in downtown Middletown, 10 months year ago and we've had a temporary sign ever since,” said Curtis. “At our anniversary, though, we will be unveiling our new, hand-painted sign.”
“It is really special," added Nunn. “It was painted by a local artist and friend of ours, JoAnn Robinson. It captures the spirit and whimsy of our toy store and we are excited to unveil it at 1 p.m. for the public to see.”
In addition to the sale – offering between 25 and 50 percent off a large selection of great toys – but they'll also have popcorn and balloons for everyone.
There's also the new “Book Nook” – a newly created space to hold the store's selection of children's books.
"Over the last two years we’ve enjoyed becoming part of the community, working with the schools, and meeting the kids and parents of Lake County,” said Nunn. “We moved here because of the beauty but we've stayed because of the people. And we hope that everyone enjoys our party as much as we've enjoyed becoming part of the community!”
Funtopia, located at 21208 Calistoga St., in Middletown, California, is a locally owned independent toy store, specializing in unique toys and games that enhance play and creativity for children of all ages. Open Tuesday through Sunday, they are the perfect place to find that special birthday gift and have it wrapped for free.
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SB 1055 was approved 8-0 on Feb. 13 by the Senate Committee on Revenue and Taxation. Machado and Wiggins are both members of the committee.
Under existing law, mortgage debt that is forgiven by a lender is taxable to the borrower as ordinary income (not capital gains) in the year in which the debt is forgiven.
For example, if $50,000 in principal of a $450,000 mortgage is written off by the lender as part of a loan modification or a short sale, the borrower would have to increase his or her adjusted gross income by $50,000 that year. These tax law rules can be a heavy burden for borrowers already having trouble meeting their financial obligations.
The Machado bill will allow a borrower whose lender agrees to forgive some or all of their mortgage debt to exclude that forgiven debt from their income for state income tax purposes. SB 1055 will help borrowers whose lenders agree to a short sale, a short payoff, a loan modification, or a loan refinance in which some or all of the borrower’s original debt obligation is forgiven.
It may also help borrowers who lose their homes to foreclosure, if the borrower refinanced his or her mortgage, and if their lender cannot recover the full amount it is owed on the mortgage debt through the foreclosure sale.
SB 1055 will be effective for debt forgiven in 2007 or 2008, and will only apply to debt forgiven on owner-occupied homes.
“The effects of the home mortgage crisis will continue to be felt for some time,” Wiggins said last Wednesday. “I am glad to support Senator Machado’s badly-needed legislation, which will offer real and immediate relief to qualifying California taxpayers.”
Wiggins represents California’s 2nd Senate District, which includes portions or all of six counties: Humboldt, Lake, Mendocino, Napa, Solano and Sonoma.
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