Bonus Depreciation 2024 Equipment Deduction. The standard mileage rate for business miles in 2024 goes up to 67 cents (from 65.5 cents in 2023) and the. The bonus depreciation rate for 2024 is 60%, and it.
Two of the most powerful tools at your disposal in 2024 are the section 179 deduction and bonus depreciation. It begins to be phased out if 2024 qualified asset additions exceed $3.05 million.