Definition of «business expenses»

Business expenses refer to costs incurred while running a business. These may include overheads such as rent, utilities, and office supplies; marketing and advertising costs; wages for employees; travel expenses related to work; insurance premiums; taxes; and other miscellaneous expenditures that are necessary for the smooth functioning of the company. Business expenses can be deducted from a company's income when calculating its taxable profit, which helps reduce the overall tax burden on the business.

Sentences with «business expenses»

  • Don't deduct personal expenses as business expenses on your taxes. (policygenius.com)
  • However, business owners can still take deductions for business expenses including their office and business travel. (us.etrade.com)
  • Many home - based business owners are able to deduct several different types of business expenses based on the type of business they run and expenses incurred over the course of the year. (business-opportunities.biz)
  • (see all sentences)
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