littleGizmo
New member
My wife and I had a combined income between our two jobs last year according to taxes files of $28,000 in US. We are low income earners. So if I am calculating it right total Zakat would be about $700?
Question about Zakat
- Thread starter littleGizmo
- Start date
sitarragul
New member
Jazak Allah khair so nice of you both zakat really very good thing if you are giving zakat it will clean and save your salaries or also its really a big swab.
It depends on many thing like
Cash on hand and in bank accounts (savings, checking, etc.)
Refundable deposits (e.g. on rented apartment)
Non-delinquent loans (money you loaned to others)
Expected Tax refund
Gold, Silver and Precious Items
NumberShares, stocks, bonds, IRA, pension plans, options, etc.
Business cash on hand and in banks plus invoices due.
Net value of business inventory and trade goods
Net income you are entitled to as of Zakat due date (e.g. your next paycheck that you worked for already)
But generally based on the value you mentioned its 700$