2024 Bonus Depreciation Rules

2024 Bonus Depreciation Rules. In 2024, the bonus depreciation rate is set to reduce from 80% to 60%. The tcja allows businesses to immediately deduct 100% of the cost of eligible property in the year it is placed in service, through 2022.

For vehicles under 6,000 pounds in the tax year 2023, section 179 allows for a maximum deduction of $12,200 and bonus depreciation allows for a maximum of. Our experts at creative advising have meticulously analyzed the legislative.