Bonus Depreciation Bill 2024. Bonus depreciation the bonus depreciation rate was reduced to 80% for property placed in service in 2023, and reduced to 60% for property placed in service in. Bonus depreciation is a tax incentive that allows businesses to immediately deduct a significant portion of the purchase price of eligible assets, such as machinery, instead of.

The full house passed late wednesday by a 357 to 70 vote h.r. The title extends the allowance for depreciation, amortization, or depletion in determining the limitation of the business interest deduction.