Bonus Depreciation 2024 Limit 2024

Bonus Depreciation 2024 Limit 2024. It allows businesses to deduct a significant portion of a purchased asset’s cost in the year. Bonus depreciation allows a business to immediately write off 60 percent of the purchase price of qualified depreciable property, rather than taking the expense over.

In 2024, the bonus depreciation rate is set to reduce from 80% to 60%. The key aspect that sets bonus depreciation apart from section 179 is its ability to be applied without a limit on the amount of investment.