What Is Bonus Depreciation 2024. Bonus depreciation is a valuable tax incentive that allows businesses to deduct a significant portion of the cost of eligible assets upfront, rather than writing them off. The tcja allows businesses to immediately deduct 100% of the cost of eligible property in the year it is placed in service, through 2022.
Bonus depreciation is a tax incentive that allows businesses to immediately write off a significant portion of the purchase price of eligible business assets. This is down from 80% in 2023.