Ongoing expenses are the regular costs you incur to keep your business running. They are recurring, necessary, and usually tax-deductible.
Examples for businesses:
- Rent and utilities
- Staff wages
- Marketing and advertising
- Software subscriptions
- Insurance
- Routine maintenance
These are different from capital expenses, which relate to buying long-term assets like equipment or vehicles.
Keeping track of ongoing expenses helps with:
- Budgeting and cash flow
- Reducing your taxable profit
- Filing accurate tax returns
