General Policies

GENERAL POLICIES

Assets

Cash on hand
This is the total amount of cash at home and in your wallets

Balance Held in Bank Accounts (checking, savings & business)
Monetary value

Retirement Plans (401K, IRA & pension)
Note: Subtract penalty & taxes from the withdrawable amount

Business Inventory (wholesale value)

Rental Income (from rental properties)

Gold & Silver (at current value)

Loans (money lent to others)

Other Income (gifts, allowances, bonuses)

Resale Value of Shares (stocks & mutual funds).

Liabilities

Debts (loans, 1 month mortgage payment, 1 month car payment)

Expenses for the Current Month (rent, utilities, etc.)

Wages Due to Others (personal or business)

Total Zakatable Amount

Nisab* (Gold Standard)

$3,744

2.5 % of zakat