Section 179 Vehicles 2024 List Of Items. Section 179 has a maximum deduction limit each year. In contrast, bonus depreciation is limited to 80 percent for 2023 (60 percent for 2024).

The deduction limit decreases for every dollar spent. Imagine that a company has purchased a new piece of machinery used 100% for business purposes at a cost of $50,000 and zero salvage value.