Deductible expenses for business are costs that you can subtract from your business’s taxable income. These expenses must be related to running and managing the company, such as utility bills, rent, employee salaries and wages, advertising costs, insurance premiums, office supplies, and other similar types of expenses. To be deductible, these costs must reasonably contribute to the success of the business, which is why entertainment and travel expenses are usually not considered deductible. When in doubt, check with a tax specialist to make sure your expenses qualify.