Business expenses are a key part of the tax equation for any entrepreneur or small business. They include all costs associated with running a business, from operational costs to capital expenditures. Business expense categories for taxes generally can be divided into five main categories: personnel-related expenses; office and professional services; rent, utilities and insurance; marketing, advertising and promotions; and capital equipment. Each category may include various different types of expenses, and it’s important that they are accurately tracked in order to maximize deductions when it comes time to file taxes. Taking the time to separate these expenses into clearly defined categories can give your business an advantage at tax time – and save you money in the long run!