We provide a Zakat calculator for everyone. Calculating Zakat can be an overwhelming task for people who want to do it properly and diligently. Most existing online Zakat forms and calculators only provide a skeleton framework, leaving much of the complexity of data gathering, calculation, and disbursement for users to navigate on their own. ZakatIQ aims to change this and provide a more convenient and comprehensive solution.
People living in North America are already familiar with and accustomed to using online applications and services for Federal and State income taxes. ZakatIQ is somewhat similar, as it takes many of its cues from them.
ZakatIQ’s purpose is to enable Muslims to calculate their annual Zakat obligation accurately and correctly. ZakatIQ, is a Zakat calculator for everyone.
Gathering Information
Required for Calculation
You can not accurately calculate Zakat until you diligently gather all the necessary financial information. The information-gathering process can be long, tiring, and difficult for people who already have busy lives and schedules. ZakatIQ helps users take baby steps and gather all the required details by using dozens of small, simple, easy-to-fill, interactive forms that users’ can fill at their convenience and comfort.
Calculating Zakat
Made simpler
Calculating Zakat is not as simple as multiplying the gold, silver & money we own by 2.5%. Our lives have evolved significantly over the past 1400+ years, and most people own savings & investments which did not exist earlier. As a result, we need to research and consult Scholars before we can calculate Zakat correctly. ZakatIQ has already done this, and it makes the Zakat calculation process much simpler.
Disbursing Zakat
Fulfilling its obligation
It is necessary to disburse Zakat to the right category of people and purpose to fulfill the Zakat obligation correctly. It is not permissible to give Zakat money for all causes, persons, and not-for-profit organizations. Hence, we must identify Zakat eligible recipients to whom we payout our Zakat. ZakatIQ has already identified several reputable organizations that are or have Zakat eligible projects.