Deductible expenses are costs that a small business owner may deduct from their gross income when filing taxes. These expenses can include a wide range of items, such as operational costs, business travel, and certain types of insurance. Deductible expenses are an important tool to help businesses manage their finances—by reducing taxable income, businesses can maximize the amount they take home while minimizing the amount they owe in taxes. By planning proactively and making the most of these deductions, small business owners can end up with more money in their pockets come tax season.