Tax deductions for business expenses are an essential way to reduce your tax liabilities and save money. They allow businesses to deduct certain costs from their taxable income, lowering the amount of tax they must pay each year. Commonly deducted business expenses include rent, wages, vehicle costs, advertising, office supplies, professional fees, and taxes paid on behalf of employees. By taking advantage of these deductions, businesses can focus more on growing and expanding without having to worry about high taxes burdening their profits.