Section 179 Bonus Depreciation 2024 Tax. • heavy suvs*, pickups, and vans (over 6,000 lbs. For tax years beginning in 2024, the maximum section 179 expense deduction is $1,220,000.

 — section 179 applies to business assets with a depreciation schedule that is less than 20 years. Irs rules require most businesses to apply section 179 first.