Bonus Depreciation 2024 Limit For Car. While section 179 provides an upfront deduction up to a certain limit, bonus depreciation. For 2024, the maximum luxury auto depreciation deductions are as follows:

Bonus depreciation allows businesses to quickly deduct a substantial portion of eligible asset costs. Under the new proposed rules, if a taxpayer itself manufactures, constructs, or produces property for use in its trade or business or for its production of income, the additional first.