Two questions.
1) As a gift your employer gives you a $5,000 watch. Since it is a gift, you don't have to report it as income right.
2) You paint a friends house and he pays you $300 for your trouble.
legally are these income. I don't think so, since 1 is a gift, and 2 is an exchange between friends.
1) As a gift your employer gives you a $5,000 watch. Since it is a gift, you don't have to report it as income right.
2) You paint a friends house and he pays you $300 for your trouble.
legally are these income. I don't think so, since 1 is a gift, and 2 is an exchange between friends.