Section 179 And Bonus Depreciation 2024 . While bonus depreciation and section 179 are both immediate expense deductions, bonus depreciation allows taxpayers to deduct a percentage of an asset’s cost upfront. It begins to be phased out if 2024 qualified asset additions exceed $3.05 million.
(these are up from $1.16. In 2024, businesses can optimize their tax benefits by combining section 179 and bonus.
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