Section 179 Bonus Depreciation 2024. In contrast, bonus depreciation is limited to 80 percent for 2023 (60 percent for 2024). While bonus depreciation and section 179 are both immediate expense deductions, bonus depreciation allows taxpayers to deduct a percentage of an asset’s cost upfront.

Through the 2022 tax year, people could use bonus depreciation to write off eligible assets right away. Under section 179, you can write off the.