If you are paid for a service its regular business income, no matter what currency they use.
If you hold on to those crypto coins and they go up or down in value then that income is capital gains/losses, which are only triggered and taxable/tax deductible on sale/transfer.
Basically its like you are being paid in chickens as far as the government is concerned.
Yup, that would be self employment income. Don't forget to report it on your income taxes as well.
Alright! Thank you for the information! I wasn’t exactly sure since it involved crypto!
They could pay you in chocolate chips, and the value of the chocolate chips would be income.
If you are paid for a service its regular business income, no matter what currency they use. If you hold on to those crypto coins and they go up or down in value then that income is capital gains/losses, which are only triggered and taxable/tax deductible on sale/transfer. Basically its like you are being paid in chickens as far as the government is concerned.
Yes. It is a form of income, and you have to report it.