How Much Is Bonus Depreciation In 2024 Calendar. (these are up from $1.16 million and $2.89 million, respectively, in 2023.) bonus depreciation basics. To qualify for bonus depreciation, you must meet specific criteria set by the irs.

For 2024, the bonus depreciation rate is set at 60%. Bonus depreciation is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets, such as machinery, rather than write them off.