Calculate first-year tax deductions using bonus depreciation. Deduct a large percentage of your asset purchase in year one instead of spreading it over many years.
Bonus depreciation is phasing down
Enter your asset details to calculate depreciation benefits
Accelerate your tax deductions by taking a larger write-off in the first year
Most tangible property with a recovery period of 20 years or less qualifies. This includes machinery, equipment, computers, furniture, and vehicles.
Bonus depreciation is phasing down by 20% each year: 80% (2024), 60% (2025), 40% (2026), 20% (2027), 0% (2028+).
Asset must be purchased and placed in service during the tax year. The sooner you buy, the higher the bonus percentage!
Common business assets eligible for bonus depreciation
Manufacturing equipment, forklifts, tools
Desks, chairs, cubicles, shelving
Computers, servers, off-the-shelf software
Cars, trucks, vans used for business
Restaurant equipment, medical devices
Decorative landscaping, fencing around property
Bonus depreciation is decreasing each year. Schedule a consultation to plan your asset purchases strategically and maximize your deductions.