2024 Bonus Depreciation Limit 2024. Bonus depreciation deduction for 2023 and 2024. In 2024, bonus depreciation continues to be a valuable tool for businesses looking to invest in new or used property, offering a deduction of a certain percentage of the asset’s cost.
Explanation in budget memorandum 2024: In 2024, the bonus depreciation rate is set to reduce from 80% to 60%.