What Is Bonus Depreciation 2024. The bill delays the beginning of the phaseout of 100% bonus depreciation from 2023 to 2026. This lowers a company’s tax liability.
Bonus depreciation is a tax incentive that allows businesses to immediately write off a significant portion of the purchase price of eligible business assets. It allows a business to write off more of the cost of an asset in the year the company starts using it.