| |
Federal |
California |
| |
2023 |
2024 |
2023 |
2024 |
| Sec 179 expense election |
1,160,000 |
TBD |
25,000 |
TBD |
| Purchase phase out limit for Sec 179 |
2,890,000 |
TBD |
200,000 |
TBD |
| Sec 179 for Qualified Improvement Property (non-residential only) |
1,160,000 |
TBD |
N/A |
TBD |
| Sec 179 limit for SUVs greater than 6,000 lbs |
28,900 |
30,500 |
25,000 |
TBD |
| Bonus Depreciation - New & Used Assets (Including SUV greater than 6,000 lbs) |
80% |
60% |
0 |
0 |
| Autos Less Than 6,000 lbs - 1st Year Depreciation including Bonus Depreciation |
20,200 |
TBD |
3,860 |
TBD |
| Trucks Less Than 6,000 lbs - 1st Year Depreciation Including Bonus Depreciation |
20,200 |
TBD |
4,260 |
TBD |
| Qualified Improvement Property |
depreciated over 15 years and is also eligible for 80% bonus depreciation |
depreciated over 15 years and is also eligible for 60% bonus depreciation |
39 year recovery period |
39 year recovery period |
