Bonus Depreciation 2024 Equipment Company. It allows a business to write off more of the cost of an asset in the year the company starts using it. Bonus depreciation allows qualifying businesses that spend more than the 2024 section 179 limit to depreciate up to 60% on the remaining purchase amount.

Your total equipment purchases in 2024 equal $3.2 million. Bonus depreciation comes into play after the section 179 deduction limit is reached.