hire a CPA or do it myself(just purchased a business)?

We just bought a tiny mom&pop market in Los angeles county. The market sells groceries, beer & wine and lottery. The store is about 700 sqft.
We don't have any employees since it's so tiny. Should we hire a CPA to do our taxes and accounting or can we do it ourselves? Is it hard to do it ourselves? Is there a free help online or someplace so that we can do it ourselves? What should be careful about?
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Oh, by the way, it's going to sole proprietor.
snipped-for-privacy@tiny.tiny wrote:

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On Aug 4, 1:52 am, snipped-for-privacy@tiny.tiny wrote:

At the minimum you should initially consult with an experienced CPA that has other retail clients. Even if you decide to do it yourself with Quickbooks or Peachtree having the books set up correctly from the start will minimize future problems (and will save you taxes!)
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.