Using the Zakat calculator
Enter all assets that have been in your possession over a lunar year into the Zakat calculator. This will then give you the total amount of Zakat owed.
Zakat calculator: Simplifying your Zakat calculation
Calculating your Zakat isn’t as difficult as you may think. We find that breaking your assets down into different categories makes the Zakat calculation process really simple.
We have broken down the calculation process into Zakatable assets (gold, silver, cash, savings, business assets etc.) and Deductible liabilities (money you owe, other outgoings due) so you can calculate the Zakat you owe easily.
The amount of Zakat you need to pay will be determined once you have calculated the value of your net assets. You then need to see whether your net assets are equal to, or exceed, the Nisab threshold.
Plaos Islamic Center provides specialist advice
We understand that calculating your Zakat can be daunting, and even confusing. Therefore, we work with the imam of Palos Islamic Center during Ramadan to provide a specialized advice service. This service allows you to speak directly to a learned scholar via email or telephone.
What is Nisab?
The nisab is the minimum amount of wealth a Muslim must possess before they become eligible to pay Zakat. This amount is often referred to as the nisab threshold.
Gold and silver are the two values used to calculate the nisab threshold. Therefore the nisab is the value of 87.48 grams of gold or 612.36 grams of silver.