Bonus Depreciation Rules For 2024. The bill reinstates immediate domestic research expensing under irc section 174, extends 100% bonus depreciation, increases the refundable child tax credit, and. These two rules expand the ability of taxpayers to treat used property as eligible for bonus depreciation, while reducing the potential tracking burden that would.

For 2023, businesses can take advantage of 80% bonus depreciation. These two rules expand the ability of taxpayers to treat used property as eligible for bonus depreciation, while reducing the potential tracking burden that would.