David Encarnacion has always been drawn to entrepreneurship. As a club kid in the 1980s New York scene, he explored youth culture to the fullest! He later became a stockbroker & got caught in the dot com bubble bursting in the early 2000s. 💥 After losing a fortune in the stock market crash, David pivoted to mortgage lending, only to be hit again by the 2008 financial crisis. 😱
Through these trials + errors, David realized his passion for helping small business owners navigate complex tax codes & structures. He transitioned into tax preparation services, specializing in the childcare industry. After seeing many childcare centers struggle unnecessarily with bookkeeping + taxes, David launched Day Care Accounting Pro in 2021.
Tax Prep Is Not Enough
David noticed a gap in the tax prep industry. Many accountants simply file taxes without considering proactive planning or ongoing advisory. This reactive approach leads business owners to overpay on taxes year after year! 💸
Day Care Accounting Pro takes an educational approach by providing videos + resources to help clients understand bookkeeping, payroll, + tax implications. David's goal is to equip childcare centers to leverage finances as a strategic tool for business growth. 📈
Busting Myths About the IRS
Many business owners live with anxiety + fear around tax season. But David emphasizes "the IRS is not the monster in the room." By learning the tax codes + structures, entrepreneurs can legally minimize tax exposure. 😎
The IRS actually wants people to avoid overpayment! But most taxpayers don't realize the allowances + options available. Day Care Accounting Pro works as an advisor to uncover tailored savings for each client. There's no "one size fits all" formula. 👔👗
Focus on Strengths
As a business leader, David knows he can't do it all. He focuses on networking, sales, + marketing to grow the company. He trusts his team to handle the technical bookkeeping that's not his strength. ☺️ Delegating these tasks gives him an extra 43 days per year to focus on top-priority revenue generating activities!
Every entrepreneur should identify their 20% moneymaking strengths. ✨Then systematize or outsource the lower value 80% to do what you do best! This mindset shift takes humility + self awareness. But it allows small business owners to play to their superpowers. 🦸♀️🦸♂️
What did you think of David's origin journey? Let me know in the comments!
