2024 Bonus Depreciation Amount For Vehicles. What are the eligibility requirements for the additional first year depreciation deduction following the enactment of the tax cuts and jobs act of 2017 (“tcja”)? Depreciation caps for suvs, trucks and vans.
This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $3,050,000.also, the maximum section 179 expense deduction for sport utility vehicles placed. This lowers a company’s tax liability because it.
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