Calculate Your Personal Zakat

←Older revision		Revision as of 23:37, 25 June 2016
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	#Base your calculations on silver. Silver has a lower price than gold. Using silver for the nisab means you’re more likely to exceed the threshold. You’ll be able to meet your spiritual and moral duty to provide for those who are less fortunate.[[Image:Calculate Your Personal Zakat Step 3.jpg|center]]		#Base your calculations on silver. Silver has a lower price than gold. Using silver for the nisab means you’re more likely to exceed the threshold. You’ll be able to meet your spiritual and moral duty to provide for those who are less fortunate.[[Image:Calculate Your Personal Zakat Step 3.jpg|center]]
	#*For example, if each gram of silver is worth $0.66, the nisab using the silver calculation is $404.15 (612.35 grams X $0.66 = $404.15). More people would exceed this threshold rather than the gold threshold.		#*For example, if each gram of silver is worth $0.66, the nisab using the silver calculation is $404.15 (612.35 grams X $0.66 = $404.15). More people would exceed this threshold rather than the gold threshold.
−	#Know the difference between zakat and tax. Zakat is not a tax. It’s a spiritual act to help relieve people’s suffering. In many countries, paying zakat is voluntary whereas paying taxes is mandatory. Zakat directly helps the poor and needy.<ref>http://www.nzf.org.uk/Knowledge/WhatIsZakat</ref>	+	#Know the difference between zakat and tax. Zakat is not a tax. It’s a spiritual act to help relieve people’s suffering. Some people believe that in many countries, paying zakat is voluntary whereas paying taxes is mandatory. However, this is incorrect. Zakat is one of the 5 pillars of Islam, and therefore, it is an absolute must on every Muslim who is able to pay it. It is attributed to the universal religion of Islam, and therefore has nothing to do with the law of the land. Zakat directly helps the poor and needy.<ref>http://www.nzf.org.uk/Knowledge/WhatIsZakat</ref>
	#*Zakat teaches you self-discipline. It helps you focus on helping others rather than on your own possessions and needs. It helps you be a better Muslim and brings you closer to Allah.		#*Zakat teaches you self-discipline. It helps you focus on helping others rather than on your own possessions and needs. It helps you be a better Muslim and brings you closer to Allah.
	===Determining Your Wealth===		===Determining Your Wealth===