Category Archives: invest right, live right

Ideas for healthy financial living

How to Invest in the Pawleys Funds

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Learn more TODAY about how to invest in these South Carolina hedge funds!  The Pawleys Dividend Fund and Pawleys Growth Fund are long-only equity funds that do not use leverage.  The initial minimum for each fund is $100,000.  After clicking the blue link below and reading the Pawleys Capital Funds pitchbook, please fill in the contact form to receive additional details about how to invest.  This is not an offering of securities and is only provided for investors to contact Pawleys Capital Management for additional information.

Pawleys Capital Funds

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© 2013 Pawleys Investment Advisors, LLC. All rights reserved.

Risks and Disclosures:

This information regarding our services is not an offer of securities or investment advice and is provided solely for prospective clients to contact us. Past performance does not indicate future results and you may incur losses.

The Limited Partnership Interests offered hereby have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any applicable state or foreign securities laws. The Interest have not been approved or disapproved by the United States Securities and Exchange Commission (“SEC”) or any state or foreign regulatory authority nor has the SEC or any state or foreign regulatory authority passed upon the accuracy or adequacy of this private placement memorandum or endorsed the merits of this Offering. Any representation to the contrary is unlawful. Please contact Pawleys Capital Management, LLC to obtain a Private Placement Memorandum. An investment in one of the Pawleys Funds presents risks which are outlined in the Memorandum. You must qualify as an accredited investor according to the Securities Act of 1933 (“the Act”). Banks, insurance companies, registered investment companies, business development companies and small business investment companies meet the definition of accredited investor. Natural persons must have an individual (or joint if married) net worth that exceeds $1 million excluding the primary residence, OR income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year. Business entities qualify if all equity owners are accredited investors. Trusts must have assets in excess of $5 million, and may not have been specifically formed to acquire the securities offered. Charitable organizations, corporations or partnerships must have assets exceeding $5 million. Please consult with your tax or legal counsel if you have any questions regarding Rule 506 of Regulation D of the Act. Resale restrictions apply.

If you do not qualify as an Accredited Investor, please contact us regarding our Advisory Services which are available with no minimum financial requirements. Advisory clients enjoy enhanced customization of portfolio management and financial planning services. Pawleys Investment Advisors, LLC is a Registered Investment Advisory Company – SEC Firm CRD #155199.

Alternative Minimum Tax and South Carolina Municipal Bonds

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Before you read further, remember this: consult with your CPA regarding your personal situation as it may relate to AMT.  In the meantime, what is the Alternative Minimum Tax and what does it have to do with investing in South Carolina tax-free bonds?  The origin of AMT goes back a few decades when an alternative tax was implemented to offset high-income individuals taking excessive deductions and hence, paying little or no tax to the Internal Revenue System.  Tax code is, of course, very complex, and way beyond the scope of this article.  But I will touch on three important points for you to remember:

1.  AMT can be triggered by a combination of high deductions, passive income, the exercise of stock options, income from private activity municipal bonds, and a number of other factors.

2.  These days, even average income taxpayers with modest deductions may trigger AMT.

3.  The code around AMT is complex and subject to frequent revision by the IRS, so as I mentioned at the top, consult with your tax professional.

When investing in tax free municipal bonds in South Carolina (or other states), be sure to understand if an issue pays interest that may be subject to AMT.  The tax-exempt status of municipal bonds is based on how the proceeds of the debt issuance are used, and if there is any level of private activity, the interest may be deemed taxable or subject to AMT.  As always, please drop me a note if you have any questions.

© 2013 Pawleys Investment Advisors, LLC. All rights reserved.