A small business may make a business acquisition before the end of the year, and by using a combination of Sec 179 expensing and bonus depreciation can deduct most, if not all, of the cost on 2024’s income tax return. However, business acquisitions must actually be placed in service before their expenses are deductible. Thus, there would be no deduction on the 2024 return if delivery of the item is taken after the end of the year—even if paid for in 2024.