Section 179 Vehicles 2024 Irs. Section 179 of the irs tax code allows businesses to deduct the price of qualifying equipment, such as vehicles, purchased or financed during the tax year. Read this guide before you buy.
In 2024, the maximum deduction allowed for vehicles is $1,050,000. For section 179 deductions in 2024, you can now deduct up to $1,220,000.
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