Bonus Depreciation 2024 Equipment. 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 in the first year. Though $632k compared to the $1m or so that it reportedly cost new reflects plenty of depreciation.

 — among its array of provisions, the extension of 100% bonus depreciation emerges as a cornerstone, designed to spur investment in machinery, equipment, and vehicles by allowing businesses to deduct the full cost of eligible assets in the year they are placed into service. Bonus depreciation deduction for 2023 and 2024.