Preparedby: Traphagen&TraphagenCPAs,LLC
Date: June30,2025
Contact: ChristopherM.Chudyk,CPA,CITP 234KinderkamackRoad Oradell,NJ 07649 (201)262-1040x225
A. Firm Background and Philosophy
Qualifications
Traphagen CPAs & Wealth Advisors (TRAPHAGEN) has served as a leader and provider of financialservicessincebeingestablishedin1970byfoundingpartnerV.PeterTraphagenSr.CPA, CFP, PFS, AEP. As Certified Public Accountants and Registered Wealth Advisors, TRAPHAGEN professionals combine the value of our individual credentials to achieve a comprehensive view of our client’s personal and business goals and objectives. Our Accounting Team specializes in taxation, financial reporting, and advisory services, including financing and mergers and acquisitions. Our Wealth Management Team designs client portfolios to achieve superior risk adjusted returns and provides comprehensive estate, tax, retirement, and financial planning services.
As our firm enters its 55th year of services, the “Traphagen Experience” is based on a tradition of trust and integrity. We diligently work to maximize our client’s personal wealth and business success. Our mission is to build wealth, limitrisk and attain financial security for our clients and their families by formulating a holistic plan considering the entirety of our client’s financial circumstances with a life cycle of services.
Traphagen & Traphagen CPAs, LLC provides accounting & financial reporting, tax, and business advisory services to a vast range of professionals. Our managing partner serves on Advisory Boards of Banking Institutions; our firm also has extensive resources with other business professionals.
Clientservicesinclude:
Accounting&AssuranceServices
Audits of Financial Statements
Review&CompilationofFinancialStatements
Audits of 401K Pension Plans
Technology Consulting & Implementation
Advisory&ConsultingServices
Business Structure
Bank & Equipment Financing Assistance
Buy/Sell Agreements
Mergers & Acquisition Due Diligence
Retirement Planning
Benchmarking Industry Analysis
Profit Improvement Strategies
IRS Representation
TaxServices
Tax Planning Strategies
Tax Return Preparation
Tax Research
Multi-State & Local Tax strategies
WealthManagement
Comprehensive Financial Planning
Portfolio Wealth Management
Retirement Planning
Estate Planning
Wealth Transfer Strategies
Education Planning
Eldercare Planning
401K Management & Rollovers
Staffing Philosophy
TRAPHAGEN team members are entrepreneurial professionals who will assist in the growth of your business. Our advisors hold the most prestigious credentials in applicable fields of study. These designations include CPA (Certified Public Accountant), CFP (Certified Financial Planners), PFS (Personal Financial Specialist), CGMA (Chartered Global Management Accountant), AEP (Accredited Estate Planner), CITP (Certified Information Technology Professional) and CCPS (Certified College Planning Specialists).
TRAPHAGEN's unique synergy, the collective view of our professionals, is our distinct competitive advantage. Our professionals have an extensive knowledge in numerous disciplinesbusiness accounting, retirement plans, tax strategies, investment management and personal financial planning. TRAPHAGEN's "collective view" approach adds value to every client. This is the strength of our firm.
Communication
Our firm enjoys an open dialogue with clients and provides a variety of communication methods to suit the needs of each client. We welcome not only phone calls, but in person meetings at our firmoryouroffices;werecognizethebenefitsofnewmediaparadigmsandcommunicatethrough Zoom, Team, email, texting and convenient document exchanges through our client portal. We are always cognizant of security issues. We regularly update and inform clients of tax and investment changes that could affect them through electronic correspondence and newsletters.
Giving Back
TraphagenCPAs&WealthAdvisorsbelieveitisnotonlyourresponsibility,butacorevalueofthe firm to enhance our community. We are committed to improving our neighborhood and state through public service initiatives and volunteerism and effectively addressing social issues. We partner with local schools to educate students on financial literacy, serve as board members for charitable not-for-profit organizations,andteamup with the Internal Revenue Service toprovide pro-bono tax preparation services to seniors and low-income earners, in addition to contributing to other charitable organizations.
TRAPHAGEN has been honored on local, state, national, and international levels for our corporate citizenship and charitable contributions.
Additionally, TRAPHAGEN strongly advocates for the advancement of the CPA profession and our associates have been recognized for the significant impact they have made to promote the profession and the business community in New Jersey and beyond.
Our firm is actively engaged in public service work. We devoted 1000 hours of time providing pro-bono tax preparation services to the community over the past four years, alone. In addition, we spend approximately 30 hours per month on other volunteer, charitable, and/or civic activities.
TRAPHAGEN’s founder V. Peter Traphagen, Sr. is serving his 4th term, re-appointment by three Governors to the World Trade Center Scholarship Fund Board of Trustees. Peter co-founded the New Jersey Society of Certified Public Accountants Help Center with CEO & Executive Director oftheNewJerseySocietyofCPAs,RalphThomas.Thisorganizationprovidesvictimsof9/11with assistance on awide range of financial issues. It was expanded in scopeto include active military personnel and New Jersey residents in crisis.
V.PeterTraphagen,Sr. expandedour communityoutreach effortsbyestablishingSHAREUSA,a non-profit 501(c) (3), local and international-based organization for the purpose of helping individuals and families in need of medical and financial assistance. SHARE USA extended its reach to the Dominican Republic in 2005 for a much-needed food drive and also provides educational assistance to local high school students participating in international student exchange programs. SHARE USA also awards annual scholarships and distributes grants in supportofeliminatingthedisparitiesofeducationalopportunitiesbetweenchildrenlivinginhigh and low-income communities across America. V. Peter Traphagen, Sr. serves as President, and Robert J. Traphagen serves as the Treasurer of this organization.
B. Staffing of Engagement
RobertTraphagen,CPA,CGMA
RobertJ.Traphagen,ManagingPartner, earnedhisB.A.in history/politicalsciencefrom Rutgers University and his B.S. in accounting from Fairleigh Dickinson University. He is a licensed Certified Public Accountant in the states of New Jersey and New York. Robert specializes in mergers, acquisitions, financing and audits. He has assisted small and large businesses by integrating corporate and individual objectives into strategic plans. Robert is also a Chartered Global Management Accountant (CGMA), a designation awarded by the American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants.
Robert was the 88th President of the New Jersey Society of Certified Public Accountants 16,000 memberorganization and has served on theBoard of Trustees. He hasalso served asPresident of the NJSCPA, Bergen Chapter. Robert serves on the American Institute of Certified Public Accountants (AICPA) Council. As a Council Member, Robert focuses his efforts on financial reporting standards, financial literacy and issues effecting the CPA profession. He is also a member of Rutgers University's Institute for Ethical Leadership. Robert was recognized by the NJSCPAasoneoftheTop50over50CPAswhoaremakingasignificantimpactontheaccounting profession in New Jersey and beyond.
In his community, Robert serves as an advisory board member for various banking institutions. He is a Past President of the Oradell Chamber of Commerce and served as director of the Oradell RotaryClub.HewasrecognizedbyformerGovernorJamesFlorioforhiscommunityinvolvement and is the recipient of the Mayor's Award for Civic Contribution. Robert also participates in the VolunteerIncomeTaxAssistanceprogram,providingpro-bonotaxpreparationservicestoseniors and low-income individuals.
Robert is married with two children. He is also active in the American Cancer Society’s Relay for LifeProgramandhasparticipatedinnumerousmarathonsincludingtheNewYorkCityMarathon in support of cancer research.
ChristopherChudyk,CPA,CITP
Chris Chudyk, Partner, is a Certified Information Technology Professional (CITP), a designation awarded by the American Institute of Certified Public Accountants and held by less than 1% of all CPAs nationwide and a Certified QuickBooks Pro Advisor. Chris specializes in the implementation of computer software, business tax returns, review, compilations and tax planning.
Chris served as the President for the Bergen Chapter of the New Jersey Society of CPAs (NJCPA) and was the past Chairman of the NJCPA Technology Committee. He is also a member of the American Institute of Certified Public Accountants (AICPA) and served on the AICPA's IMTA (Information Management Technology Assurance) committee.
Chris was recognized and selected as one of NJBIZ 2014 Forty Under 40 Award Winners for his commitment to business growth, professional excellence and community service within New Jersey.
Chris was named to the inaugural New Jersey Society of CPAs A list. Practitioners and members of the NJSCPA were selected for their continuing impact on the accounting profession in the Garden State and beyond.
Chris volunteers his time working with students for the NJCPA Scholars Institute, Career Day and the CPA Career Awareness Presentation program.
ChrisisagraduateofRamapoCollegeandenjoysworkingout(P90XandInsanity);playssoftball, coaching, and is married with four kids who keep him active 24/7.
JeffreyHanson,CPA,PFS,AEP,CFP®,CDFA
Jeff is a graduate of Lock Haven University with a B.S. in Accounting. He has his Masters Degree in Accounting from Montclair State University and has obtained his CPA License. He also holds the designation's of Personal Financial Specialist (PFS), Acredited Estate Planner (AEP), of Certified Financial Planner (CFP) and of Certified Divorce Financial Analyst (CDFA).
Jeff specializes in individual taxation, business accounting and taxation, and estate tax returns. He has his Series 65 License and specializes in wealth management services, including portfolio management, retirement planning, educational funding, and insurance planning. He provides comprehensivepersonalfinancialplanningbyusinghisuniqueskillsetasaCPAfinancialplanner to provide clients with cohesive tax and investment planning and advice.
Jeff is a member of the New Jersey Society of Certified Public Accountants (NJCPA) and of the American Institute of Certified Public Accountants (AICPA). He is a member of the National AssociationofPersonalFinancialAdvisorsoffee-onlyplanners(NAPFA),andthepresidentofthe Greater New Jersey Estate Planning Council (GNJEPC).
Jeffismarriedwithtwochildren. Heenjoysrecreationalsportsincludingsoccerandbaseballand likes to go on hikes. He is an avid football fan and sports enthusiast.
NicoleGarcia,CPA
Nicole Garcia is a 2020 graduate of William Paterson University where she earned a B.S in both Accounting and Financial Planning as well as a minor in Economics.
DuringhertimeatWilliamPaterson,NicoleparticipatedintheHonorsCollegeandpresentedher thesis project to the University. While at William Paterson she served as Vice President of the Delta Mu chapter of Phi Sigma Sigma and was a Peer-to-Peer leader to incoming accounting students.
Nicole is a licensed Certified Public Accountant in New Jersey, a QuickBooks ProAdvisor and a member of the New Jersey Society of Certified Public Accountants (NJCPA). She has experience with both individual and business tax returns.
Nicole enjoys hiking, listening to music, and spending time with family and friends in her spare time.
C. Engagement Fees
Our fees for services are based on the time expended at our standard rates (listed below).
Monthly/QuarterlyServices
We will perform the following services on a monthly / quarterly basis as outlined below:
1. Review of cash receipts and disbursements for classification.
2. Review of bank statements and bank reconciliation as outlined in the attached Option 1.
3. Review of and preparation, where applicable, analysis schedules for balance sheet accounts and selected income statement accounts.
4. Preparation of proposed adjusting journal entries, where applicable.
5. Reconciliation of wages per payroll tax returns to general ledger.
6. Provide assistance with the applications of QuickBooks, entries, which include the preparation of proposed adjusting journals; the objective of which is to generate an internal trial balance and general ledger.
Review of actual vs. budgeted results
Review of results with industry
Provide recommendations for business and tax purposes
EngagementOptions:
Our fees for the above services will be based on time expended at our standard rates. We offer two options for the same scope of services, with the monthly option providing a more in-depth, hands-on approach:
Monthly: $1,000
Quarterly: $2,200
We will invoice you beginning on January 31, 2026.
Please note: This does not include the implementation and training of your Staff on Accounting and General Ledger Systems. We can forward you a separate estimateifnecessary.
Review of internal financial and tax information for tax planning strategies and recommendations.
This is a continuous focus of our firm. We will also provide written recommendations no later than October of each year, based on the September 30th financialdata. Ourgoalistoprojectstrategiesthrough yearend December 31st,to meet eachCompany’sobjectivesandreduceMembertaxliabilities. This is a critical component of our holistic approach which would include individual Partner tax projections using integrated strategies. $5,800
CompanyTaxReturnPreparation
Federal tax returns including state and local returns. $4,100
PrincipalTaxReturnPreparation
Federal tax returns including state and local returns.
AdditionalServices
We offer a menu of additional services such as Structure Analysis, Compensation planning, QuickBooks assistance, etc. These services may be engaged on an as-needed basis and will be billed based on time expended at our standard rates.
Michael DeCotiis Personal Tax Returns
Douglass Doyle Personal Tax Returns $1,250 $1,250
Partner Level Services
Senior Manager
Manager
Senior Accountant
Junior Accountant
Para-Professional/Intern
$375 - $435
$295 - $374
$258 - $295
$196 - $257
$112 - $195
$50 - $125
We are available to discuss this proposal with you at your convenience. We anticipate a review of all fee areas once we are familiar with your accounting process and your expected deliverables.
We have come to realize during our more than 55 years of service to our clientele that as we represent you, you represent us. We would like the opportunity of representing you and we are confident we can add value to your organization.
Upon receipt, please call to discuss.
Very truly yours,
Traphagen & Traphagen, LLC
Traphagen & Traphagen CPAs, LLC
AcceptedBy: MichaelDeCotiis&DouglassDoyle
Date:
Our“normalbankreconciliationservices” are performedsolelytocomparethe amountofCashin Bank on your books with the amount of Cash in Bank shown on the bank statement.
The service is neither designed nor intended to deter or discover fraud, embezzlements or any other irregularities.
When performing the “normal bank reconciliation services” we DONOT:
Look at individual checks
Examine signatures, payees or any other information on any individual check
Examine the signature cards on file with the bank or determine if the correct authorized individuals have signed the check
Determine whether payee information matches what is shown in your books
Perform any procedures to determine whether the checks are for appropriate expenses
Because we do not perform any of the steps described above, we are able to perform our “normal bank reconciliation services” quickly and at a low cost.
D. Client Testimonials
“As a business that started out fairly small and grew steadily over the first 20 years, we really needed an accounting firm that could help us maximize our company's growth and help us maintain our momentum. After working with Traphagen CPAs& Wealth Advisors for more than five years, we've come to rely heavily on their forecasting, industry research & assessments, and strategic tax planning; not only for our basic accounting purposes, but for our short and longterm corporate roadmap.
Michelle
Eastman, President Eastman Associates
“From our Company’s inception, Traphagen CPAs & Wealth Advisors has been an integral part in the growth of our business. The energy they bring to our meetings exudes an air of credibility, confidence and integrity, providing the facts I need in helping me to make sound business decisions.”
Kristopher
Steele, President New Castle Building Products
“For three generations we've put all our accounting needs in the hands of Traphagen CPAs & Wealth Advisors. Our business Conrad's Confectionery is built on the same principles of quality and trust. Their integrity and honesty have guided us well in our business and personal needs over the past 40 plus years.”
John
Krachtus,
Business Owner Conrads Confectionary
“The Traphagen model is based on a middle of the road, middle of the day tradition of trust and integrity coupled with a dogged determination and stealth like execution to achieve our goals and objectives on a timely basis. The Traphagen experience has been invaluable in the growth of my company.”
James McQueeny, CEO Winning Strategies Public Relations
“Our company has used the accounting and financial services of the Traphagen CPAs & Wealth Advisors for over 20 years. We have always received excellent business advice and services that have been used to grow our business; their professionals are valued members of our support team.”
Patrick Burns, COO French Color & Fragrance