The Wall Street melt-down occurred because of HER way of thinking, wheeling and dealing – “It’s only unethical if you point it out.”

My god, the time and effort Alaskan bloggers put into investigation and dogged follow-through is humiliating for reporters. Or it should be.

Well done CD and AKM, question is, what does that joke of a personnel board, APOC and / or the legislature do with all these descrepancies? What about the legitimate press?

Now, the sponsorship deal throws another iron in the fire. Todd can’t take off his taxes anything he gets for free AND has to declare as gifts (and pay tax on) amounts received in discounts, gear, clothing, travel/lodging over a certain amount, which I think is either $12,000 or $13,000 PER DONOR (which personally I think is way too high), and the Arctic Cat deal in 2008-2009 very conceivable exceeded that.

Now, throw into the fire the iron where your wife is governor and by law has to declare all this stuff.

This means paper trail from APOC disclosure forms to IRS tax returns should match.

We have both for previous years to examine, but I have a question: Since she WAS governor for all of 2008, does she have to disclose her 2008 taxes? She quit in 2009, so I’m pretty sure we’ll never see those.

I’m afraid to take what as legitimate business expenses (such as Business Use of Home) because I’m afraid that an auditor will find one little personal paper clip in the section I use as an business office and disallow all the expenses, yet these people haven’t been audited.

Like others, I visit your site. My thoughts are that the
information would do more if placed on a wider screen. For people to still consider, Palin, a honest person means that the information isn’t reaching enough people. You might want to think about going on television (National not local); sorry, but I don’t have much faith in the media, especially, the local media. You would have many viewers in the US and beyond.

Your efforts and concerns are legit. However, they are being ditched by your local Officials. The only way to really bring your efforts to fruition is to start bringing them ( your articles and Local Officials) to the Headlines. You worked hard and have actually PAID, the price . Dust off that information and give it into some fresh light.

Would be nice if you could be on Oprah after Palin’s interview. There are 2 sides to a story. Let yours be heard. Maybe you can have equal time like Palin, one hour, imagine what can be told!!

The ATF appears to be set up as a Trust, and as such would be required to file Form 1041. This would not need to be made public unless the trust document called for it…trusts are governed by the trust document which should tell how the income is to be distributed and for what purposes…i.e. living expenses for a widow, educational expenses for grandchildren, or in this case stolen money for a grifter. The ATF tust document can be found here:

http://www.thealaskafundtrust.com/site/downloads/alaska_fund_trust.pdf

In a nutshell, if the trust was set up correctly and is legal (which appears to be questionable) then this document spells out how the trust must distribute its income. The income of the trust is reported to its beneficiaries via Form K-1 and they are required to pay taxes on it. The question that pops to my mind is whether the legal fees would be an expense to the trust, thereby reducing the income that could be dsitributed to the beneficiaries; or whether the legal fees would be an expense for the beneficiaries, in which case they may or may not be deductible, and would be reportable on their individual taxes on Form 1040. In the case of a salaried individual incurring the expense because of their job I would imagine that the deduction would then be subject to the 2% limitation on Schedule A for itemized deductions. In other words, McQuittyPants would have to report ALL of the money given to her by the trust as income and then would get to deduct her legal fees as an itemized deduction.

Obviously, if the expense was incurred because of illegal activities then it would not be deductible at all.

Also too, I believe if a trust does not distribute a certain amount of its income then it may be subject to an excise tax on the undistributed amount over a calculated percentage. (Take this all with a grain of salt…it’s been at least 5 years since I’ve done any trust returns.) Trusts are NOT tax exempt organizations.

There was an extensive discussion of this on the forum when the ATF was set up.

I also noticed that C.Diva has posted the Part # 2 follow-up to this on her website. She points out in many places that Sarah and Todd have not even tried to be truthful. Not even close. It’s all laid out and has multiple Media sources that tell of LARGE amounts of money or sponsorship that Todd’s race team receives for Free and they don’t claim or document ANY of it.
If the authorities don’t act on this indisputable evidence… they need to be charged with something as well for being conspirators in this Sham.It really makes you sick that they are so blatant with these lies and documents.
Will they REALLY let her get away with… THIS..?
{ Somebody outside of AK needs to start an Investigation … don’t know who }
Check out what Diva has posted on her blog.