Section 179 Vehicles 2024 Schedule. For 2024, the limits for section 179 have been adjusted to account for inflation, making it even more advantageous for business owners looking to invest in their companies. The section 179 deduction allows businesses to deduct the cost of qualifying vehicles over 6,000 lbs from taxable income, providing substantial tax relief and immediate.

Changes to section 179 deduction rules in 2024. For 2024, the maximum section 179 deduction is $1,220,000 ($1,160,000 for 2023).