|Zakah is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 85 grams of gold, is the minimum amount of wealth one must have before they are liable to pay zakah.
As of October 29, 2020, nisab is estimated to be $3,913.
|This year's Nisab Value is||$3,913.00|
|Cash on hand and in bank accounts (savings, checking, etc)|
|Non-delinquent loans (money you loaned to others)|
|Value of Gold, Silver and Precious Items|
|Value of Shares, stocks|
|Net value of IRA, 401K, Pension Funds if liquidated as of the zakat payment date (adjusted for taxes and penalties if applicable)|
|Business cash on hand and in banks plus invoices due|
|Net Value of business inventory and trade goods|
|Equity in investment Real Estate|
|Total Zakatable (Eligible for Zakat) Amount|
|Zakat Amount Due|
|Your Zakat Amount Due is calculated at 2.5% of your total Zakatable (Eligible for Zakat) amount only if your total Zakatable Amount is equal to or above the nisab.|
|Once you have calculated your zakat, copy the total and paste the amount in the pay your zakat page to donate.|