Can my foreign LLC hold balances in multiple currencies? How do multi-currency accounts work?
I run a foreign-owned LLC that has clients in the U.S. (paying in USD), Europe (paying in EUR), and Japan (paying in JPY). Currently I'm converting everything to USD when I receive it, which costs me in exchange rate markups.
Is there a way for my LLC to hold balances in multiple currencies? I've seen Wise mentioned for multi-currency, but can I legally hold EUR and JPY in a U.S. LLC's account? Are there any tax reporting implications?
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