2024 Bonus Depreciation Bill Format. The bill also extends 100% bonus depreciation from january 1, 2023, through december 31, 2025, increases the limit for section 179 expensing to adjust for. Bonus depreciation deduction for 2023 and 2024.

Extension of 100% bonus depreciation. Bonus depreciation allows businesses to reduce their taxable income by writing off a significant portion of the cost of eligible assets in their first year.