Cash At Home*

What is the total value of your physical cash on hand?

Savings Account(s)*

What is the total value of all of your savings account(s)?

Silver

How many ounces of silver do you have?

We will use the price of silver at $17.11 per oz, current as of 5/18/2020 (source). Alternatively, you can provide the value of your silver in $. If you provide both, we will add them together for you.

Gold

How many ounces of gold do you have?

We will use the price of gold at $1735.20 per oz, current as of 5/18/2020 (source). Alternatively, you can provide the value of your gold in $. If you provide both, we will add them together for you.

Investments & Resale Value of Shares

An investment is a stock, fund, or currency that you hold for a short or long period of time. You will treat these shares the same way you would if you had them as cash in your pocket via their market value. This includes the market value of cryptocurrencies and tokens with some exceptions). Don’t forget to include the cash in your brokerage account(s) here if you haven’t already done so above.

Property Held as Investment

If any of these mentioned above are already in your checking account or another account previously listed, be sure NOT to double count it here.

If you have a property listed for sale, pay Zakat on the amount you would earn if you sold it right now at its list price.

If you own a property, but do not have plans to use it for living or renting (e.g. holding or flipping), then you do not pay Zakat on it until it has been sold. You pay Zakat on the value received from sale of the inactive property.

If you rent a property, you do not need to pay Zakat on the value of the property itself, because the property is considered a tool of your trade, rather than the result.

Cash Value of Business Inventory

You pay Zakat on all of the items in your inventory, including raw ingredients and final products, that meet these conditions: (1) you hold that inventory for more than a year, (2) the inventory is not under contract, (3) you have designated that inventory for sale. In the case of a partnership, value your share of the inventory. You do not pay Zakat on your business domicile, equipment, or tools.

Business Bank Accounts

Assuming you have not already included these in your earlier checking or savings accounts. In the case of a partnership, value your share.

Accounts Receivable

Include the amount of money in your accounts receivable: money owed to your business for goods and services that have been delivered or used. In the case of a partnership, value your share of the accounts receivable.

Living Expenses*

This can include: rent/mortgage payments, medical expenses, health insurance, utilities, groceries, transport, upkeep, and any other miscellaneous living expenses. Because your bills and expenses are considered debts owed to others, you have to pay those first. You should only deduct those expenses which are immediately due (before you expect to pay Zakat).

Debt Owed to You*

This can include student debts, credit card debts, a secondary mortgage, and any other debts that have become due. If you have a debt that you are paying off in installments, you should only include installment that are due, even if you choose to pay off more. Mortgage payments on your primary residence are not a part of this category - they should be accounted for in Monthly Expenses.