Question for you, VirtualCPA, if you will...
I have a great deal of foreign currency which will shortly re-value. I need to make sure that when I cash-in following the RV, it will be owned by my LLC, and not by me. I have bank account(s) for the LLC. The general protocol is that I will present my foreign currency to a trader, who will wire- transfer USD into my LLC's account.
Do you know of anything else I need to do to be sure this $$ is letitimately owned by the LLC, and that I won't be stung by the IRS for something I have not done correctly? I purchased this currency with my own money, before I formed the LLC.
Do you have any recommendations for me?
Thank you so much! I appreciate you.