Section 179 Bonus Depreciation 2024 Date. 27, 2017, and before jan. Limits and qualifications for 2023 and 2024.
For tax years beginning in 2023, the maximum section 179 expense deduction is $1,160,000. Both bonus depreciation and section 179 allow taxpayers to take accelerated deductions on the upfront purchase price for the businesses’ fixed asset additions.