• Managers should have a working list of expenses.boss and secretary image by Andrey Kiselev from Fotolia.com
  
  Businesses should always have a checklist of expenses ready for record-keeping and tax purposes. Having a list helps to maintain overall financial integrity. Unforeseen expenditures are obvious issues that must be proactively avoided. Also, by organizing the company tab, any necessary adjustments are easier to make.
  
  

Advertising Fees

• If your company has recently hired an advertising agency, or purchased ad space, the fee must be noted. These fees can often be recurring or ongoing payments. Make note of the time periods during which ads are leased.
  
  

Raw Materials

• If your business creates or manufactures the product(s) it is selling, add supplies and materials to your checklist.
  
  

Rent or Lease

• If you are renting your office space, record this recurring fee.
  
  

Repairs and Maintenance

• If a piece of equipment needs maintenance, write it down. Many business unknowingly neglect to include repairs in their tax write-offs.
  
  

Utilities

• Common utilities include an Internet connection and electricity. These are monthly payments, so budget accordingly.
  
  

Depreciating Assets

• A commonly forgotten tax-deductible element in business expenses is depreciation. Your company vehicle may be worth less than it was last year. Though this is a passive form of "expense," it should be noted.
  
  

Employee Payrolls

• Any business that hires individuals must carefully assign payrolls and monitor job positions. Over-hiring should be avoided to prevent overspending.
  
  

Services

• If your company uses any kind of legal or professional service, you need to record it. The lawyer you use to help draft disclaimers on your company website is tax-deductible.
  
  

Donations

• Though giving to charitable organizations is not an "expense," it eats away at the budget just like one. Ask for receipts for all donations to use during tax season.
  
  

Travel

• If an employee frequently pays for his plane tickets using company credit, write it down.