Bonus Depreciation 2024 Equipment Rental. Qualifying for bonus depreciation on a rental property can save you thousands of dollars in taxes over the life of the investment. The special depreciation allowance is 80% for certain qualified property acquired after september 27, 2017, and placed in service after december 31, 2022, and before january 1, 2024 (other than certain property with a long production.
The tcja allows businesses to immediately deduct 100% of the cost of eligible property in the year it is placed in service, through 2022. This guide offers a detailed look into the mechanics and strategic application of bonus depreciation in 2024, particularly focusing on new developments and how businesses can.