Business-minded contractors are constantly reviewing and strategically expanding their service offerings and product mix, often entering into new lines of business to stay competitive. While periodically reevaluating your company’s offerings and launching new endeavors can be beneficial to its financial health, it’s the CFM’s responsibility to make sure the underlying organizational structure selected is the best suited for the particular circumstances. It’s critical to be aware of the financial and operating implications of selecting one or multiple entity formation options for those new ventures, and furthermore, to understand the tax implications of selected structures.