Bonus Depreciation Limits 2024. Assets acquired during the bonus period (september 27, 2017, to january 1, 2023) can receive 100% depreciation deductions in the first year. For 2024, the bonus depreciation percentage is set at 80%, which means you can write off 80% of the cost of eligible new or used equipment immediately.

Utilize both bonus depreciation and section 179 expensing to maximize tax savings. For an asset that is.