Bonus Depreciation 2024 Rules . Businesses should adapt systems, consider section 179, and review state rules. In 2024, the bonus depreciation rate will drop to 60%, falling by 20% per year thereafter until it is completely phased out in 2027.
These two rules expand the ability of taxpayers to treat used property as eligible for bonus depreciation, while reducing the potential tracking burden that would. It allows a business to write off more of the cost of an asset in the year the company starts using it.
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