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You can deduct any interest on loans provided to your company. Your deduction would be the amount of interest you paid.
Your loan should be a reasonable rate - what is experienced in the market
what is a reasonable rate?
What is experienced in the market - what you could get a bank loan for
I mean, you don't want to pay 20% to your dad just so you can get a huge deduction, when bank rates are only 7%
ok. Got it
Is there anything else that I can assist you with today?
Does my father need to file for taxation for the personal loan if he is non resident alien?
Yes, he will have income from the loan and will need to file a tax return
ok. Got it. Thx