Section 179 Bonus Depreciation 2024 Limit

Section 179 Bonus Depreciation 2024 Limit. For tax years beginning in 2024, the maximum section 179 expense deduction is $1,220,000. Section 179 allows businesses to write off the entire purchase price of a piece of qualifying equipment for the current tax year,.

For tax years beginning in 2024, the maximum section 179 expense deduction is $1,220,000. Bonus depreciation, which is generally taken after the section 179 spending cap is reached, will continue to phase down from 80% in 2023 to.