Re: Zakat minus Expenses
Re: Zakat minus Expenses
Re: Zakat minus Expenses
Islam is a deen=a way of life advised by our creator and sustainer and it is here to help us remove all the problems from human community which people themselves create for each other due to lack of their proper understanding as to how mankind should live in this world properly.
Re: Zakat minus Expenses
The way I do it is when zakat time comes around, I'll take the value of my assets minus the debt and then give 2.5% of that. So I'm not sure what you mean by subtracting expenses, as zakat is only given on what is already in surplus of your needs.
I do the same way too. Also, till my wife was in school, we calculated zakat as a family. Now that she is working we do it separately.
I have been using a spreadsheet to do the estimations by one Br. Arif Jameel. I can share it with you all, but it uses this approximation method. If br psyah comes up with a better one, I would like a copy too.
Re: Zakat minus Expenses
Peace OYMWA
There are lots of spreadsheets out there that are used like a program for calculating zakat. I can make one based on the correct calculation method ... I have prepared a spreadsheet for the purpose of demonstrating how the correct calculation works not as a calculator for people's zakat like the one you are referring to. I have sent it to some people here. There are really good calculator spreadsheets out there no need to reinvent the wheel ... But as you say they are approximations and not true zakat ... But because we have monthly balance on our bank statements it is really easy to do a better calculation than final balance.
If I prepare one it will only be for cash balance and not for other assets and it will not account for debts ... It will need as inputs the balance figure every lunar month for the past 24 lunar months, to give an accurate zakat for the previous year. It will utilise the trapezium method for the estimation of this year and when used again for next year it will calculate the adjustment. If you want I can prepare such a spreadsheet inshaAllah, but if you want to see the other spreadsheet that demonstrates how the true zakat is calculated then I can send that to you.
Re: Zakat minus Expenses
I do the same way too. Also, till my wife was in school, we calculated zakat as a family. Now that she is working we do it separately.
I have been using a spreadsheet to do the estimations by one Br. Arif Jameel. I can share it with you all, but it uses this approximation method. If br psyah comes up with a better one, I would like a copy too.
I just go with method I mentioned since it makes things simpler and sure, I might end up overpaying zakat by a little but that's no problem. Better to give slightly more than less than what I owe. My brother had prepared me a spreadsheet sometime ago. But when it comes to savings, I can quickly do that myself. The spreadsheet was more to figure out how much we owe for my wife jewelry.
Re: Zakat minus Expenses
Peace OYMWA
There are lots of spreadsheets out there that are used like a program for calculating zakat. I can make one based on the correct calculation method ... I have prepared a spreadsheet for the purpose of demonstrating how the correct calculation works not as a calculator for people's zakat like the one you are referring to. I have sent it to some people here. There are really good calculator spreadsheets out there no need to reinvent the wheel ... But as you say they are approximations and not true zakat ... But because we have monthly balance on our bank statements it is really easy to do a better calculation than final balance.
If I prepare one it will only be for cash balance and not for other assets and it will not account for debts ... It will need as inputs the balance figure every lunar month for the past 24 lunar months, to give an accurate zakat for the previous year. It will utilise the trapezium method for the estimation of this year and when used again for next year it will calculate the adjustment. If you want I can prepare such a spreadsheet inshaAllah, but if you want to see the other spreadsheet that demonstrates how the true zakat is calculated then I can send that to you.
The one for cash balances should be sufficient. I can plug that in as a separate sheet in my spreadsheet and have the final number for my rest of the calculation.
Re: Zakat minus Expenses
Do you first subtract your personal expenses and then calculate zakat on the amount after subtraction? If one is not working, do they still subtract the amount they spent on personal expenses?
First of all you can ask from your Imam Masjid and if he is not an Aalim then you can check with your Fiqha/Maslak Book. I’ve checked main Maslaks and all of them are agree that after Nisab or on the date when you were Sahib-e-Nisab then on every year you have to give Zakat on all the money which you have on that day. Most of the people give their Zakat on First Ramadan. I also heard and made calculation sheet that this is necessary that every amount should be with us for one year then we’ll give Zakat but one of my friend show me their Maslak Aalim’s book and after comparing this thing with other masliks I got agreed then I again calculate all the Zakat which was left. But telling you honestly that when you have to give 2 or 5 Lakh Zakat that most probably you’ll see some other way to reduce the amount, so, when you listened from someone that you can reduce your Zakat so, you happily agree with that way. I am not saying I am an authority but please check with your Main Maslik book and compare with other maslak’s book as well. I’ve seen many differences but on this issue all of the opinion is same.
Its only between you and your Allah so don’t need to take it as Burdon. You will feel great relax after paying the full Zakat. You can give it to anyone who is not Sahib-e-Nisab. Tell me your maslak and InshaAllah I”ll send you the link so you check from there. This is necessary that we must get knowledge about these things.
Even University of Peshawar made a survey and work on Zakat on Provident Fund and when they contact with people that were not willing to listen the whole things as they were not paying Zakat on it. Once again I emphasized that listen to everyone but accept the things which makes you and your Allah happy.
So, on 1[SUP]st[/SUP] Ramadan whatever I have, I calculate all of them even house expenses then give 2.5% Zakat of this amount.
You have to calculate Gold + Plot (if you have a plot but you want to construct house on it then no Zakat but if you are keeping this plot for investment purpose then Zakat is applicable) + Money, It only depends on your intention that do you really want to give full Zakat or want to save.