National investment loss lawyers KlaymanToskes issues an important notice to investors who may have suffered losses following misconduct by their brokerage firm and/or broker/financial advisor. Investors may not be fully aware of how their investment accounts affect them during tax season, including how financial fraud and broker/advisor misconduct can impact an investor’s tax return.
Our firm has represented clients throughout the world resulting in the recovery of over $600 million, including $250 million in FINRA arbitration cases alone on the behalf of our clients, including individual, high net-worth, and ultra-high-net-worth investors.
If you suffered losses at the hands of your brokerage firm, stockbroker, and/or financial advisor, and suspect you may have been a victim of fraud, misconduct, and/or securities violations, contact Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation to discuss your potential case. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Investors that receive income from their investments may have to pay an ordinary income tax rate and/or a special tax rate involving lower, long-term capital gains tax rates, depending on their circumstances. Investors that profit from selling an investment typically must pay taxes for the money that they earned, or, in the event that they sustained a loss from the sale, they may be able to take a deduction depending on the assets involved.
According to the IRS’s “Limit on the Deduction and Carryover of Losses,” if your capital losses exceed your capital gains, the amount of the excess loss you can claim to lower your income is the lesser of $3,000 ($1,500 if married filing separately) or your total net loss shown on line 16 of Schedule D (Form 1040). Investors may benefit from treating investment fraud losses as capital loss, casualty loss, or theft loss when filing their 2022 IRS tax return. The IRS also allows victims of Ponzi-like schemes to deduct their losses as theft losses, deductible as an itemized deduction.
To learn more about the types of securities violations investors face, see our account activity violations page and our account related violations page. This includes in-depth information on securities violations such as unsuitable investment advice, excessive trading (“churning”), financial advisor’s/firm’s breach of fiduciary duty, unauthorized trading, negligence, and others.
If you have suffered losses due to misconduct, financial fraud, and/or securities violations at the hands of your brokerage firm or broker/financial advisor, you may be entitled to a financial recovery in a FINRA arbitration claim.
FINRA (“Financial Industry Regulatory Authority”) is the self-regulatory body responsible for regulating all registered U.S. brokers and brokerage firms doing business with investors in the United States and throughout the globe.
KlaymanToskes believes a FINRA (“Financial Industry Regulatory Authority”) arbitration claim is generally the best course of action for investors who have suffered realized or unrealized losses as a result of misconduct and/or securities violations by a FINRA-regulated brokerage firm or financial advisor. During FINRA arbitration, depending on the type of claim and amount in alleged damages, a panel of three arbitrators will hear both sides of the issue, examine the allegations, and make a decision on how to resolve your claim.
The ruling issued by the FINRA arbitration panel will likely be final, meaning that choosing the best team for your case is crucial to the outcome of your claim and the financial recovery you receive.
With over a century of combined experience, KlaymanToskes has assisted thousands of investors in the recovery of more than $600 million. KlaymanToskes has been advocating for investors’ rights for decades, from the limited partnership scandal of the 90’s, the Tech Bubble in 2000, to the Mortgage Crisis in 2008, through the Puerto Rico Government Debt Crisis in 2013, the COVID-19 pandemic stock market crash, and the recent bond losses/banking crisis due to the major hike in interest rates.
If you suffered losses at the hands of your brokerage firm, stockbroker, and/or financial advisor contact Lawrence L. Klayman, Esq. for a free and confidential consultation at (888) 997-9956 or lklayman@klaymantoskes.com to discuss your potential case and learn more about the arbitration process. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
*Before fees and costs
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com