Section 179 Bonus Depreciation 2024 For Home. The expensing limit was doubled from $500,000 to $1. 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 $8,000, for a total.

Simply enter the purchase price. Section 179 versus bonus depreciation understanding the differences, bonus depreciation gives taxpayers the ability to expense up to 60% of the cost of assets placed in service during the.