Bonus Depreciation 2024 Used Equipment. Learn how to deduct a fixed percentage of an asset’s cost upfront with bonus depreciation, and when to use irs form 4562. The applicable bonus depreciation percentage.

Bonus depreciation is a tax incentive that allows a business to deduct a large percentage of the cost of eligible assets in the year of purchase. Used equipment does qualify for bonus depreciation as long as it is new to the taxpayer, i.e.