Section 179 And Bonus Depreciation 2024. Instead of spreading the deduction over several years through depreciation, section 179 enables you to take the entire deduction in the year the equipment is placed into service. 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.
Section 179 and bonus depreciation are both tax incentives that aim to encourage businesses to invest in capital assets. Learn about depreciation schedules and strategic tax planning with insights from.