Bonus Depreciation Bill 2024

Bonus Depreciation Bill 2024. Bonus depreciation is a significant tax incentive that allows businesses to immediately deduct a substantial portion of the purchase price of eligible assets rather than. The bill reinstates immediate domestic research expensing under irc section 174, extends 100% bonus depreciation, increases the refundable child tax.

In 2024, the maximum bonus depreciation percentage will be 60%. The bill includes 100% bonus depreciation, allows for immediate research and development expensing and expands the child tax credit.