There is a ton of stuff to do in Tahoe! You’ll have so much fun!
One thing I always recommend to visitors to Tahoe is to take a boat ride around the lake. There’s several different boats (Tahoe Queen, MS Dixie II, etc…) but most of them take the same route across the south shore to Emerald Bay, circle the Tea Island, and come back. I personally don’t think the dinner cruises are worth the money, but sometimes you can find coupons in the local paper that make it a little more worthwile. I also recommend driving the Highway Loop around the Lake. It takes maybe half a day, but it’s considered one of the most scenic drives in America, and there are so many cute, fun stores and restaurants to stop at all along the way.
Also, there are a lot of cool historic sites up here to visit: The Thunderbird Lodge, Vikingsholm, Gatekeeper’s Museum, and Valhalla/ The Pope Estates (where I was married!). These aren’t your traditional historical tours; most of the history up here is about illegal gambling rings, mob hideouts, etc… Also, Valhalla has a seasonal entertainment schedule that can be found on their website. They have plays, musicians, comedians, historic speakers, etc… and all of them perform in this boathouse with a back wall made out of windows so you can see the lake the whole time. It’s really beautiful! The casinos also have nightly performances of musicians, plays, shows, etc… Plus, they all have nightclubs, bars, jazz clubs, etc… that are open every single night of the week. You could also check out the Shakespeare on the beach festival, which runs through August. It’s a little expensive but so worth it, imo. 🙂
If you enjoy gambling, South Lake Tahoe has several casinos. Harrah’s has a new “fast” roulette game, that is partially computerized along with all the rest of the traditional table games. It’s pretty cool; I like it better than regular roulette. Plus, Harrah’s and Harvey’s have daily poker tournaments. You don’t have to be good to join; my husband played once and he beat out several other people his first time!
For easy hikes/walks, you should check out Taylor Creek. They actually have installed a stream profile so you can look at the stream underwater; it’s cool! I also love trips up to Fallen Leaf Lake, which is only a couple miles away, but is always quieter/less packed with tourists. Angora Lake is also fun for a picnic or to escape tourist crowding at the popular beaches. For a harder hike, you can check out a part of the Tahoe Rim Trail (there’s various hikes you can take, or you can rent bikes or take horseback rides). Plus, there are million kayak/boat/bike rental places all over the place (and at every beach), in case you decide to do one of those things.