Free tool

Zakat calculator for personal and business wealth

Work out the zakat due on your savings, gold, investments and business assets. Built by Saleh Ahmad, who holds a Zakat Accounting Diploma from Kuwait Zakat House and worked there as an internal auditor.

1. Nisab (the minimum)

Loading today's gold and silver prices… Then choose which standard to use.

Gold price per gramIn US dollarsSilver price per gramIn US dollars

Silver standard (595 g)Gold standard (85 g)

2. Personal wealth

Cash and bank balancesChecking, savings and cash on handGoldCurrent market value of gold you ownSilverCurrent market value of silver you ownShares and investmentsMarket value of shares and fundsMoney owed to youLoans you expect to be repaid

3. Business assets

Business cash and bank balancesAll business accountsAccounts receivableCustomer invoices you expect to collectInventory for saleGoods held for sale, at market value

4. Deduct what you owe

Debts and bills due nowPersonal and business amounts currently due

How zakat is calculated

Zakat is one of the five pillars of Islam: 2.5% of the wealth you have held for a full lunar year, once that wealth is above the nisab. The calculation has four steps:

Add up your zakatable assets: cash, gold, silver, investments and money owed to you, plus business cash, receivables and inventory for sale.
Subtract the debts and bills that are due now.
Compare the result with the nisab, using today's price of gold or silver.
If it is at or above the nisab, multiply it by 2.5%.

For a business, the numbers come straight from the balance sheet, which is why clean books make zakat far easier. If your books aren't up to date, the figures you enter here are only as good as your records.

Questions

What is nisab?: Nisab is the minimum amount of wealth a Muslim must own before zakat is due. It is set by the value of 85 grams of gold or 595 grams of silver. Many scholars recommend the silver standard because it is lower, so more people pay and more people in need benefit. Others use gold. Some scholars use slightly different weights, so follow the guidance you trust.
What is the zakat rate?: Zakat on money, gold, silver, trade goods and similar wealth is 2.5% of the zakatable amount, paid once a full lunar year (hawl) has passed while your wealth stayed above the nisab. Some people who calculate on a solar year instead use a slightly higher rate to account for the longer year.
Which business assets count?: In the common approach, a business pays zakat on its cash, the customer invoices it expects to collect, and its inventory held for sale, valued at market price, minus debts currently due. Assets the business uses to operate, such as equipment, vehicles and buildings, are not counted.
What is not counted?: Your home, personal car, furniture, clothing and other things for personal use are not zakatable. Neither are business fixed assets used to run the business.
How are shares counted?: Scholars differ. Shares bought to trade are usually counted at their full market value. For long-term holdings, some scholars count only your share of the company's zakatable assets. If you are not sure, ask a scholar or an accountant familiar with zakat.

Need zakat calculated for your business?

I've worked in accounting for 38 years, including nine years at Kuwait Zakat House, and I calculate zakat from a business's own books as part of my Islamic finance and Zakat accounting work. I work online from Weatherford, Texas.

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This calculator is a general guide based on commonly used methods, not a religious ruling. Scholars differ on some details, such as the nisab standard, shares and certain debts. For your own situation, consult a scholar you trust.