Taxes can be daunting, but with a prudent system of expense categories in place, you’ll reap the rewards when filing season comes around. Expense categories for taxes refer to the breakdown of costs incurred by your business that are deductible for tax purposes. This includes expenses related to the running of a business, such as goods or services, wages paid to employees, rent, and other relevant costs. By tracking each of these useful deductions, you’ll be able to maximize your savings and stay on top of your finances. To ensure compliance with tax regulations, businesses should have clear definitions of what constitutes an eligible taxable expense in all their operations. Be sure to consult an experienced tax accountant if you’re unsure of the details – and happy filing!