President, Hotay Professional Corporation
MUHAMMAD FARUKH SHADAB HOTAY, CPA, CGA. As President/Director of HOTAY Professional Corporation (HPC), Farukh is responsible for ensuring the organization remains focused on achieving its growth objectives by identifying new clients, personal and business related, meets all industry standards and performs audits.With over 15 years plus experience in the accounting field, with past tenures primarily at Ryder Logistics and Maple Leaf Foods, Farukh’s responsibilities have included maintaining client relationships, filing of personal and corporate taxes, working with QuickBooks and Caseware.Through his wealth of knowledge and experience Farukh understands and appreciates the challenges facing his clients in terms of accounting and tax related issues.Farukh graduated from Athabasca University with Bachelors in Accounting and now holds a CPA designation
22 Ratings
CB
Jan 6th, 2023
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JM
Dec 23rd, 2022
The material covered was useful.
JT
Aug 17th, 2023
Was this a grift? This was easily the worst webinar I've ever attended related to tax. It contained a number of inaccuracies. Some examples: 1. The instructor stated that mortgage interest is deductible on personal income tax from one's personal residence. Mortgage interest is NOT deductible in Canada outside of being used as part of an office-in-home calculation or rental property. Mortgage interest on the home is actually deductible in the US. Which leads me to... 2. The 250k/500k exemption for the gain on sale of a taxpayer's home is purely a US tax code thing and has nothing to do with Canadian tax legislation. This suggests that Mr. Hotay doesn't even understand the basics, let alone the intricacies, of Principal Residence Exemption. 3. His definition and explanation of marginal tax rates is completely wrong as well. Marginal tax rate does NOT mean "combined provincial and federal taxes". What did I pay for here if the instructor lacks a basic understanding of fundamental concepts? 4. "Staycation credit" is not related to Canada Budget 2022. This is an Ontario only credit and should be considered out of scope for the purposes of this course. Perhaps he should have discussed new (to 2022) and relevant Canada Budget items like the increased limit for the Home Accessibility Tax Credit or the introduction of the Multigenerational Home Renovation Tax Credit? 5. Numerous spelling errors on slides The instructor was also clearly reading off the slides without any personal interpretation or expansion of the concepts presented. A lot of mumbling, contradictory statements, and simply wrong interpretations were made throughout this 90 minute ordeal. My-CPE should not be using Mr. Hotay's 'expertise' going forward. This really stretches the credibility of this professional development platform. I'm getting 1.5 credits towards my CPE requirements for this, but quite frankly, I shouldn't.
1.5 Credits
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