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Small Business Expenses
Common Small Business Expense Categories
Operating Expenses
- Rent or mortgage payments for business premises
- Utilities (electricity, water, gas, internet)
- Office supplies and equipment
- Insurance premiums
- Professional fees (legal, accounting)
- Marketing and advertising costs
- Software subscriptions and technology expenses
- Salaries and wages
- Payroll taxes
- Employee benefits (health insurance, retirement plans)
- Training and development costs
- Recruitment expenses
- Raw materials and inventory
- Manufacturing costs
- Shipping and delivery expenses
- Packaging materials
- Fixed: Rent, insurance, salaries (consistent monthly costs)
- Variable: Utilities, raw materials, shipping (fluctuate with business activity)
- Business travel and meals
- Vehicle expenses for business use
- Home office deduction (if qualified)
- Business insurance
- Depreciation of business assets
- Interest on business loans
- Keep detailed records and receipts
- Separate business and personal expenses
- Use accounting software for tracking
- Regularly review expense reports
- Plan for seasonal fluctuations
- Negotiate with vendors for better rates
- Helps with budgeting and cash flow management
- Identifies areas for cost reduction
- Supports tax preparation and compliance
- Provides insights for business decision-making
- Improves overall financial health of the business
Employee-Related Expenses
Cost of Goods Sold (COGS)
Fixed vs. Variable Expenses
Tax-Deductible Business Expenses
Expense Management Tips
Importance of Expense Tracking
The prompt for this was: tell me about small business expanse
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