Bonus Depreciation 2024. Extension of 100% bonus depreciation. Bonus depreciation allows qualifying businesses that spend more than the 2024 section 179 limit to depreciate up to 60% on the remaining purchase amount.

Bonus depreciation is an accelerated depreciation business tax deduction that lowers your small business tax bill. It allows a business to write off more of the cost of an asset in the year the company starts using it.