What are Business Expenses?

Right? What are business expenses? Can I take my personal vehicle and write off all my trips because I own a business? No, sorry, you can't, but there is a way to keep track of business and personal expenses.

The best thing to do is first, get a business checking account, and if you need to a business credit card to keep your business expense separate from your personal assets.

Next, what are business expenses? What can I write off? Great, question. Here is a list of common business expenses:

• Advertising

• Business Insurance

• Commissions and Fees

• Contract Labor*

• Depreciation of Assets

• Interest

• Job Supplies

• Mortgage for Office, storage, and or manufacturing center

• Legal and Professional Services

• Office Supplies

• Rent or Lease of Office, storage, and or manufacturing center

• Rent or Lease of Vehicles, Machinery, and Equipment

• Repairs and Maintenance

• Taxes and Licenses

• Travel for business

• Utilities

• Vehicle Expenses* or mileage (Mileage not reported on P&L)

• Business use of Home Office (Not reported on P&L)

You may still have questions, right? Well, I created just the printable for you! Download it today!

Common Bookkeeping Terms