Bonus Depreciation Limits 2024. The limits for 2023 and 2024 are as follows: Utilize both bonus depreciation and section 179 expensing to maximize tax savings.

179 deduction for tax years beginning in 2024 is $1.22 million. In 2024, the bonus depreciation is scheduled to fall to 60%, which means businesses should carefully plan their investments in the coming years to maximize tax benefits.