Explain the items of gross income and how to tax them: whether at gross or at net, further determining whether it is subject to final taxation or regular income taxation.

Discuss the basic principles of income taxes and determine your filing status.

What is an arms-length transaction? What is its significance to income taxation?

The definition of gross income in the tax law is: All items specifically listed as income in the tax law All cash payments received for goods provided and services performed All income from whatever source derived All income from whatever source derived unless the income is earned illegally