Business Expenses On Taxes are a critical part of running a successful business. They are the costs directly related to doing business, such as supplies, travel, advertising and more. By deducting these expenses from your income on tax returns, you can reduce your taxable income and save money. When it comes to keeping track of these expenses, make sure to keep accurate records of what was spent, when it was spent, and why it was spent – this could be in the form of receipts, invoices or other documents. Failing to take advantage of your business expenses could lead to overpaying on taxes, so be sure to get them right!