Eligible business expenses represent all the costs incurred as part of ordinary and necessary operations associated with running a business. These include but are not limited to rents, wages, supplies, advertising and marketing, utilities, repairs, taxes, and interest. Eligible business expenses can be deducted from your taxable income, meaning the money you owe the government in taxes is reduced. It’s an important part of managing your finances and staying profitable. Without it, your business could be paying more than it needs to. So, make sure you know what qualifies as an eligible business expense—it could save you big!