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if you own your own business you have to make sure that you are not skipping this step so I just picked up a brand new monitor it cost me 120 but I will be able to use that as a tax write-off for my business you have to make sure you are saving your receipts and keep and keep track of your expenses let me explain so letamp;#39;s say for this example a company had a gross revenue of 500 000 and expenses at a hundred thousand dollars thatamp;#39;s why itamp;#39;s important to keep track of your expenses because youamp;#39;re going to get taxed at your net profit of four hundred thousand dollars so for this example if you were to get taxed at the five hundred thousand dollars at forty percent youamp;#39;d be getting taxed two hundred thousand dollars in taxes but since you kept check of all your expenses youamp;#39;re going to pay a hundred and sixty thousand dollars in taxes so itamp;#39;s going to save you forty thousand dollars in tax savings thatamp;#39;s why the big companies
