Nationa2024 Bonus Depreciation Rate

Nationa2024 Bonus Depreciation Rate. This means businesses will be able to write off 60% of the cost of eligible assets in the first year that the assets are placed into service. Bonus depreciation is a way to accelerate depreciation.

While the tcja provided an immediate boost to bonus depreciation, it also contained a sunset provision that would gradually reduce the benefit over time. 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.