2024 Section 179 Vehicle Limit. The section 179 deduction allows. In addition to the vehicle deduction limits, you also have a total section 179 deduction limit for all types of depreciable assets.

The section 179 deduction and bonus depreciation provide additional deductions to income in year a vehicle is placed in service thereby reducing a company’s tax liability. The maximum is $1,160,000 for 2023 and.