Tracking business expenses for taxes is a vital part of running a successful business. It can be tedious, time consuming and expensive, but it is an important task that must be done to ensure compliance with Internal Revenue Service (IRS) regulations. According to the IRS, business expenses are any costs that are incurred while conducting normal business operations. This could include anything from office supplies, services such as legal advice, or employee wages. Keeping accurate records of these expenses is essential in order to accurately report them on your tax return. Accurate tracking of your business expenses not only helps you to stay compliant, but also ensures that you are taking advantage of all the deductions you are entitled to.