Bonus Depreciation 2024 Limited. It allows businesses to deduct a significant portion of a purchased asset’s cost in the year the asset is. Through 2022, you can depreciate 100% of most fixed.

Bonus depreciation comes into play after the section 179 deduction limit is reached. Under the new proposed rules, if a taxpayer itself manufactures, constructs, or produces property for use in its trade or business or for its production of income, the additional first year.