I am helping with someone's personal income tax returns. Recently they were briefly engaged by a company who use cryptocurrency as a tool for their business. It was a promotional/sales role. My acquaintance was remunerated largely by the cryptocurrency the business deals in and a small amount of cash for each "sale" they made. The business has a model which calculates a nominal dollar value of the cryptocurrency used. However there is no exchange for this particular cryptocurrency asset and its generation is unique to the business.
It seems odd that a business generated value for an asset which is not tested in the wider marketplace (such as eg Bitcoin) would have the tax on earning it determined solely by the company generating it. How should I advise my acquaintance to value this remuneration for tax purposes?
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