 |
|
|
|
|
|
|
|
|
 |
|
| |
| Few words strike fear in the hearts of Americans as universally as "tax time" or "IRS audit." But April 15th doesn't have to be a frightening time if you work with an experienced professional tax preparer like Erik Godvik of Erik Godvik & Associates. As an Enrolled Agent (EA), Erik is licensed by the US Department of the Treasury to represent taxpayers in all of their interactions with the Internal Revenue Service. Although he specializes in preparing taxes, Erik performs the same functions as a CPA, with the exception of audits. A majority of Erik's clients are entrepreneurs and small business owners, and few, if any, have the type of companies that would need financial audits. |
| |
 |
| |
| Years of broad-based management experience have prepared Erik to provide a variety of financial services to his clients, including accounting for small businesses, as well as filing corporate and partnership tax returns. For those just starting out in business, Erik can offer advice on incorporation and can help with investment and retirement planning. And if you do encounter a financial bump in the road, Erik can help you navigate it. If that dreaded letter arrives from the IRS notifying you of an audit, Erik can represent you. "It's an art, not a science," says Erik of the auditing process. "You're dealing with people, and auditors are people too." |
| |
One reason why Erik Godvik works so well with clients who are small business owners is because he shares their entrepreneurial spirit. In 1978, Erik began preparing tax returns from an office in his home. He lived at Fullerton and Pulaski at the time, near the late Embassy Ballroom. "You would always see people waltzing down the street to their cars after leaving the ballroom," recalls Erik. His first client was a neighbor who needed a new accountant when he learned that his CPA had been caught teaching people how to cook the books in the famous Mirage scandal. That year, several journalists from the Chicago Sun-Times had set up a decoy tavern called The Mirage as a sting to investigate bribes and kickbacks, which invariably caught a number of people engaging in underhanded business practices. "That was my first official paid tax return," recalls Erik.
By 1984, he decided to take the next step and incorporate. A few years later, Erik moved to the neighborhood and opened his first office on Damen, just south of Wilson. He immediately got involved with both the Ravenswood and the Lincoln Square Chambers of Commerce, so that he could network with other business owners in the area. "The most interesting thing about my line of business is working with people," says Erik. "I deal with all different types of people, even those who speak English as a second language." Erik was born in Norway and spent the early years of his life there before his family moved to Chicago's Logan Square neighborhood, which was a strongly Norwegian area. Today, Erik remains connected with the Norwegian community and still prepares the tax returns for the Norwegian church in Logan Square. |
| |
| After high school, Erik got his degree in management at the University of Illinois, Chicago Circle Campus (now UIC). In exchange for attending the university on the GI Bill, he did a one year tour of duty in Vietnam as an Army medic and received a Bronze Star. Once he graduated, Erik took a job as an internal auditor at the Federal Reserve Bank of Chicago. "We audited various departments to verify the situation," recalls Erik. "We weighed the money to count it. When the money was to be destroyed, they would punch seven holes in the bills, because Chicago was the seventh Federal Reserve Bank. The money was burned in those days. Now it's shredded." In search of more management experience, Erik went on to do accounting work for ILG Industries, a manufacturer of fans and air moving equipment located at Pulaski and Diversey. After working there for seven years, he spent some time at the Xerox Corporation in Elmhurst, then took a job as the controller and division manager of Science Products Company. When the plant closed down in 1984, that's when Erik decided to go into business for himself. |
| |
 Like his clients, Erik enjoys running his own business. "It affords you a lot of freedom," says Erik. "You can set your own schedule, although in reality you probably work a lot more than other people." Running a business for Erik has meant always keeping up with the latest in his profession. In 1984, he received a master's degree with honors in accounting from Roosevelt University. "Harold Washington was the commencement speaker at my graduation ceremony," recalls Erik. "It was his first year as mayor." He's also been a board member of the Independent Accountants Association of Illinois. Erik understands why many people are driven to work for themselves. "A lot of people are in business for personal satisfaction," says Erik. "It isn't really for the money. Once you've gotten to the point where you've fulfilled your financial needs, then you look for other kinds of fulfillment." Outside of his business, photography has been a fulfilling pursuit for Erik throughout his life. "When I retire, I'll probably get back into photography," says Erik. |
| |
| Erik's connections with the Lincoln Square neighborhood go beyond his business. He's lived in the area for 25 years, just a short walk away from his office. His wife, Betty, taught kindergarten and first grade at Saint Matthias' school for 15 years. "She was a very good teacher and very well thought of," says Erik. Now, Betty helps out in the office, along with Erik's other longtime employee, Carol Tipre, who has worked for Erik since 1987. Erik has served on the board of the Ravenswood Community Council, and helped organize the Lincoln Square Chamber of Commerce Tennis Tournament for 15 years with Hank Graham of Small Fry Children's Wear. At one time, Erik wrote a tax column that appeared in Lincoln Square's community newspaper, The Good News Weekly, which was the predecessor to Inside Publications. "I would give some basic tax advice, then ask people to call me for more details," recalls Erik. |
| |
| One thing is for certain—Erik's clients are happy with their relationship, since the majority of his new business comes from referrals. He's had some of the same loyal clients for more than 20 years. Don't let income taxes paralyze you with fear. Start working with a professional like Erik to reduce the panic at tax time or to guide you through the process of an IRS audit. If you'd like to learn more about how Erik can help you, call 773.878.8743 for an appointment. |
| |
Erik Godvik & Associates
4201 North Damen Avenue
Chicago, IL 60618
773.248.1000
Hours
Monday through Friday 10am - 6pm
Saturday by appointment |
| |
|
| |
| Read more profiles in the Member of the Month Archives |
| |
|
|
|
|
