2024 Bonus Depreciation Rules And Regulations. In 2024, the bonus depreciation rate is set to reduce from 80% to 60%. Tax legislation, with 100% bonus depreciation standing out as a.

Businesses should consult with tax professionals to understand the specific rules and limitations of bonus depreciation, especially given the potential changes in tax laws. For vehicles under 6,000 pounds in the tax year 2023, section 179 allows for a maximum deduction of $12,200 and bonus depreciation allows for a maximum of.