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Through 2022, the TCJA provided a 100% bonus depreciation rate for businesses that cannot claim the Code Sec However, under currently enacted law, bonus depreciation is phasing out, having reduced to 80% for 2023 and 60% for 2024
2024 Bonus Depreciation Patty Bernelle However, recent discussions in Washington signal that this could change. On January 1, 2025, the upfront deduction decreases again, this time to 60% It will further decline to 40% for 2025, 20% for 2026, and 0% for 2027 and beyond.
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