As a landlord, understanding your tax obligations is crucial to staying compliant with the law. Reporting rental income accurately is a legal requirement, and failure to do so can lead to penalties. Rental income includes payments received from tenants for the use of your property, and it must be reported on your tax return. Deductions such as maintenance costs, property taxes, and mortgage interest can reduce your taxable income, but proper documentation is essential. Consulting a tax professional or legal advisor can help ensure you meet all legal for landlords requirements while maximizing your tax benefits. Stay informed and avoid costly mistakes by keeping accurate records and filing your taxes on time.