Jacqueline Feliciano, Esq.

Jacqueline Feliciano, Esq. Partner at Adams & Reese LLP

Last night I had the pleasure of attending the Hillsborough County Bar Foundation’s Law & Liberty Dinner. Featuring jour...
05/15/2026

Last night I had the pleasure of attending the Hillsborough County Bar Foundation’s Law & Liberty Dinner. Featuring journalist Bill Whitaker as the keynote speaker this year, this annual event raises funds for local legal-related charities and legal aid programs.

Adams & Reese is proud to continue support of this important endeavor as a silver sponsor.

When a client comes to me to form a new business, the first question I’m asked is whether they should go with a limited ...
05/05/2026

When a client comes to me to form a new business, the first question I’m asked is whether they should go with a limited liability company (LLC) or a corporation. The short answer, is it depends. If you are a sole owner, want flexibility, with little requirements to follow corporate formalities, like annual meetings, an LLC may be an option to consider. However, if the new business is set to have various shareholders, the shareholders want strict governance procedures, a corporation may need to be considered, but the LLC is still a strong contender.

Then the question becomes one of tax structure. Do you want to consider an S corporation election, and if so, does that limit your choice to just a corporation? As simple as it may seem, these are complex topics that warrant careful consideration. Forming your company incorrectly today can be costly in the future. It is important to consult an attorney before making these decisions.

Disclaimer: This post is for general informational purposes only and does not constitute legal advice. Please consult your attorney to discuss the specifics of your situation.

Annual reports are due May 1! The deadline is quickly approaching, and it will be here before you know it! Make sure to ...
04/25/2026

Annual reports are due May 1! The deadline is quickly approaching, and it will be here before you know it! Make sure to file before the deadline to avoid late fees!

Disclaimer: The information on this page is for generally informational purposes and should not be considered legal advice.

Small business owners often maintain both a stand‑alone office and a home office for scheduling, estimating, bookkeeping...
04/02/2026

Small business owners often maintain both a stand‑alone office and a home office for scheduling, estimating, bookkeeping, and client meetings. The IRS allows a deduction for the business use of part of your home if strict requirements are met. To qualify for the home office deduction, you must use a specific area of your home regularly and, in most cases, exclusively for your business. Further, the home office may qualify if it is used exclusively and regularly for administrative or management activities, and you have no other fixed location where you conduct substantial administrative work. Even if you have a separate office or work conducted primarily at job sites, your home office can still qualify if you use it to regularly and substantially meet with clients. For detailed guidance and consideration into whether you qualify, make sure to speak with your tax representatives and review IRS Publications and instructions, which provide definitions, examples, worksheets, and other helpful guidance!

Disclaimer: This post is for general informational purposes only and does not constitute legal advice.

Los propietarios de una empresa a veces mantienen una oficina independiente y una oficina en casa. El IRS permite una deducción por el uso comercial de una parte de su casa si se cumplen requisitos estrictos. Para calificar para la deducción, debe utilizar un área específica de su hogar de manera regular y, en la mayoría de los casos, exclusivamente para su negocio. Además, la oficina en el hogar puede calificar si se utiliza de manera exclusiva y regular para actividades administrativas o de gestión, y usted no tiene otro lugar donde realice labores administrativas. Incluso si tienes una oficina independiente o si su trabajo se realiza principalmente en lugares de trabajo externos (como trabajos de construcción), su oficina en casa puede calificar si la utiliza para reunirse con clientes regularmente. Para obtener detallada y determinar si usted califica, asegúrese de consultar con su abogado y de revisar las publicaciones e instrucciones del IRS.

Aviso legal: Esta publicación es solo información general y no constituye asesoramiento legal.

A reminder of the inherent uncertainty that our founders recognized contrasted with the absolute certainty of death and ...
03/21/2026

A reminder of the inherent uncertainty that our founders recognized contrasted with the absolute certainty of death and taxes. A quote I’ve read a million times that I read in a new light.

It is not uncommon for an employer to want to reward a valued employee with a generous gesture . . . perhaps through a l...
03/18/2026

It is not uncommon for an employer to want to reward a valued employee with a generous gesture . . . perhaps through a luxury item like a Rolex, or shares of company stock. On the surface, these transfers may feel like gifts, tokens of appreciation for hard work and loyalty. But in the eyes of the Internal Revenue Service, the reality is far more nuanced, and the tax consequences can be significant. However, through thoughtful planning and certain tools, an attorney can help manage the tax burden. If you would like to learn more, feel free to read my latest article on LinkedIn or my blog, link in bio.

Disclaimer: This post is for general informational purposes only and does not constitute legal advice. Please consult your attorney to discuss the specific details of your situation.

Please, don’t rely on your online search for legal advice!It is important to consult professionals and leave complex str...
03/18/2026

Please, don’t rely on your online search for legal advice!

It is important to consult professionals and leave complex structuring to the experts for various reasons. A particular Tax Court case provides a real-life example of how online self-research can lead to unintended consequences.

In McNulty v. Commissioner, 157 T.C. No. 10., a married couple decided to establish a self-directed IRA. To set up the self-directed IRA, they conducted online research on self-directed IRAs rather than reaching out to knowledgeable advisors. In connection with setting up the self-directed IRA, they formed a limited liability company, transferred IRA funds, and subsequently purchased American Eagle gold coins. Without getting into a slew of additional missteps that happened here, the couple ran afoul of various tax rules by directing prohibited transactions and distributions that the couple would have likely avoided had they hired the right advisors.

The couple tried to argue there was reasonable cause for the mistake since they “relied on professional advice,” i.e., they relied on various websites. However, the Tax Court held that the websites did not “constitute professional advice upon which a reasonable person could rely” on. The Tax Court did not buy the reasonable cause defense and sustained the penalties against the couple.

In sum, this case is a clear example of why hiring professionals and following their guidelines is essential. If you do not, it could lead to costly mistakes.

Disclaimer: This post is for general informational purposes only and does not constitute legal advice. Please consult your attorney to discuss the specific details of your situation.

Address

100 N Tampa Street Suite 4000
Tampa, FL

Telephone

+18132275525

Website

http://linkedin.com/in/jacquelinefeliciano1003252

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