Is rental income taxed the same as regular income?

I am a new landlord renting out my first rental property. Does the IRS consider rental income as regular income and tax accordingly (30%)? Are there any special tax breaks or deductions?

Rental income is considered to be “passive income” for tax purposes. It is taxed at your normal tax rate, but there are no FICA taxes (Social Security and Medicare) like with normal earned income.