Self filing taxes for new LLCs

[Melissa Mauro]

I would love to hear from those out there who self filed their taxes for their new REI LLCs in the first year without any investment properties/deals yet. I've heard many say not to bother hiring an accountant/large firm for tax prep or planning until you have some investment properties or completed some deals. I set up my entities mid 2023 -a holding company in WY and an operating LLC in NJ and have only had start up expenses so far and no income.

What are the consequences for not filing or how do I go about filing it myself this year? It sounds like it should be a simple process since there was no income. Also, for 2024 when I go to file, at that point I could work with a CPA or tax prof and amend the prior return if it wasn’t done right, correct? 

Basically just wondering if it’s really the end of the world if I don’t file, file late or file improperly for the first start up year. I’m probably stressing over nothing when I should be focused on getting my deals closed. ;)