I know one of my friends was insisting to send something to me as a gift but I put my foot down and said no to it.

There was a time where the few fees could have made all the difference in whether I entered a taxable amount or not for the year with the IRS. I'd rather take the fees. But also a friendship shouldn't negate the fact that it's a business transaction.

Ideally a gift should be money you receive without obligation, having nothing to do with your professional work.