Business expenses are payments made to maintain a company’s day-to-day operations and activities. They include items such as office supplies, salaries, travel costs, materials, and more – all of which are necessary for the success of the business. For example, if you have to purchase a laptop for a staff member in order to better complete their work, that would be considered a valid business expense. It’s important to remember that legitimate business expenses must: 1) Be ordinary and necessary; 2) Be reasonable in amount; 3) Be paid or incurred on behalf of the business; 4) Provide a tangible benefit to the company; and 5) Be documented accurately. By understanding what qualifies as a valid business expense, companies can proactively manage their finances and ensure that their costs are kept at a minimum.