I live in Louisiana, the only state with laws based on the Napoleonic Code. I am in a "usufruct" situation with my parents. I own their rental units technically, but they are still operating this business and are lawfully entitled to the money made from the apartments. I made an LLC in 2021 following Hurricane Ida (long story), but the LLC does not technically own the properties. I didn't put the business down for my federal taxes last year, because I neither spent nor made any money from them. My parents are elderly and because of their low income, they have not filed in a decade because their deductions are greater than their income.
I'm just so lost and I don't know where to turn. I just want to do everything legally but I also don't want to screw myself, because I'm not exactly a high earner either. I'm self-employed and already pay a lot in taxes.
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