2024 Bonus Depreciation Rate For Cars

2024 Bonus Depreciation Rate For Cars. Bonus depreciation will continue to ramp down for ensuing years: Businesses should adapt systems, consider section 179, and review state rules.

For 2023, businesses can take advantage of 80% bonus depreciation. If a vehicle is first leased in 2024, a taxpayer must add a lease inclusion amount to gross income in each year of the lease if its fair market value at the time of the lease is more.