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How Much Is Bonus Depreciation In 2024
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How Much Is Bonus Depreciation In 2024. This is down from 80% in 2023. Bonus depreciation is a way to accelerate depreciation.
It allows you to deduct 60% of the cost of an asset purchased in 2024, as opposed to depreciating its cost over the useful life. For vehicles under 6,000 pounds in the tax year 2023, section 179 allows for a maximum deduction of $12,200 and bonus depreciation allows for a maximum of.
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