Claiming business expenses means deducting the cost of certain items from your business income. These costs can include travel and other related expenses, materials and supplies, advertising, professional fees, and general overhead expenses. It’s important to note that in order to be eligible for a tax deduction, you must have records to prove that each expense was incurred in pursuit of legitimate business activity. Additionally, you must take reasonable steps to ensure that these costs are not excessive or unnecessary. By properly claiming business expenses, you can reduce your taxable income and maximize the amount of money available for reinvestment and growth.