2024 Bonus Depreciation Limit

2024 Bonus Depreciation Limit. While section 179 provides an upfront deduction up to a certain limit, bonus depreciation. Bonus depreciation is an accelerated form of depreciation — it allows you to deduct a fixed percentage (80% for 2023) of an asset’s cost upfront instead of spreading the deduction.

31, 2022, and before jan. Business owners can use bonus depreciation to lower their taxable income on their tax returns.