2024 Bonus Depreciation Limit For Vehicles. For vehicles under 6,000 pounds in the tax year 2023, section 179 allows for a maximum deduction of $12,200 and bonus depreciation allows for a maximum of. Bonus depreciation deduction for 2023 and 2024.
Section 179 deductions are also limited to annual taxable business income, meaning that a business cannot deduct more. The irs has released (rev.
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