Section 179 Deduction 2024 Vehicles For Business. Read on to learn about eligibility criteria, the types of vehicles that qualify, and how to maximize your tax benefits in 2024. Section 179 deductions for vehicles.
For tax years beginning in 2023, the maximum section 179 expense deduction is $1,160,000. Section 179 has been known for allowing a company to purchase an suv and deduct the entire cost of the vehicle.