0
Donate

Search Website

Khums Calculation

Surplus

Amount you own, in US Dollars ?
Calculated on your khums due date.
Equivalent amount, in US Dollars, of foreign currency you own ?
Calculated on your khums due date.
Debts owed to you that you expect to be repaid ?
Do not include this if it was accounted for in previous financial years.
In-kind possessions not used for sustenance ?
This includes buildings, farms, factories, commodities, work tools, and any household items or possessions not used for sustenance. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.
Financial dues ?
This includes the due of key premium (surqufliah), the due of utilizing agricultural lands owned by the state, and the due of revival of lands which are fenced and prepared for residency. Calculate these at present value if they were acquired with surplus income on which a year has not elapsed, and at cost price if they were acquired with surplus income on which a year has elapsed. If acquired with a combination of income, then calculate these at present value in relation to what was acquired with surplus income on which a year has not elapsed, and at cost price in relation to what was acquired with surplus income on which a year has elapsed.
Amount you utilized prior to your khums due date ?
This is cash which was subject to khums prior to your khums due date, and which you have already spent (e.g. If this is the first year you pay khums, despite having needed to pay khums in previous years)
Fungible items you utilized prior to your khums due date ?
These are fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to present value. Fungible items are those which are freely exchangeable or replaceable, in whole or in part, for another item of a similar nature, such as machinery or factory-produced fabrics.
Non-fungible items you utilized prior to your khums due date ?
These are non-fungible items which were subject to khums prior to your khums due date, and which you have already utilized. Calculate these according to their value at point of utilization. Non–fungible items are unique items, such as unique paintings, monuments, and unique jewelry.
Amount you already paid with intention of Sahm Al-Imam ?
Amount you paid with the intention of Sahm Al-Imam before your khums due date.
Amount you already paid with intention of Sahm Al-Sada ?
Amount you paid with the intention of Sahm Al-Sada before your khums due date.

Deductions

Commercial debts ?
Include all commercial debts you still owe others.
Remaining sustenance debts taken in the financial year ?
Includes debts borrowed in the financial year for accommodation (mortgage), a car, etc. Please refer to more detailed rulings for accounting for mortgages.
Remaining sustenance debts taken in previous financial years ?
Includes debts borrowed in the previous financial year for accommodation (mortgage), a car, etc. The asset (house, car, etc.) must still be in your possession. Calculate only the amount that you have not deducted from your profits in previous financial years. Please refer to more detailed rulings for accounting for mortgages.
Amount you own which has already been subjected to khums ?
Calculated on your khums due date. Includes the remainder of funds that were subject to khums in previous years and on which you have already paid khums.
Notes
  1. 1) Your khums due date is the first day you started your job or business. If you are retired or not in employment, then you can agree a khums due date with a representative of the marja'a, or calculate separate khums years for each profit that you make, from the date you made that profit.
  2. 2) The khums of commercial commodities and real estate(s) which are intended for trading, should be paid in accordance with their current market value, even if they were bought with profits which a year has elapsed on, unless the price at which they were bought is higher than the current value.
  3. 3) If the calculations show that the amount of khums due is negative as a result of sustenance debts, then the amount of the sustenance debt equivalent to the amount of khums due for the rest of the item is calculated and excluded.
  4. 4) If sustenance debts are fully repaid in the financial year, this amount is excluded from the profits.
  5. 5) Possessions which are not subject to khums are:
    1. a. Possessions owned through inheritance:
    2. i. Cash
    3. ii. Real Estate
    4. iii. Objects that are transferrable and the like
    5. b. Possessions owned by the wife from the dowry (mahr):
    6. i. Cash
    7. ii. Gold Jewellery
    8. iii. Home furniture and the like
    9. c. Possessions used for personal or family provisions from the profits of that financial year:
    10. i. Home residence
    11. ii. Home furniture and other household items
    12. iii. Gardens used for leisure and to personally benefit from their fruit
    13. iv. Personal or family cars
    14. v. Animals that are benefited from by the household such as a cow for milk or a chicken for eggs
    15. d. Debts owed by others that you do not expect to be repaid.
    16. e. Items purchased through debt that has not yet been repaid.

Total amount subject to Khums $0

Khums Due $0

Sahm al Imam to be paid $0

Sahm al Sada to be paid $0

Email me Khums report

Charitable Giving

“The example of those who spend their wealth in the way of Allah is like a seed [of grain] which grows seven spikes; in each spike is a hundred grains. And Allah multiplies [His reward] for whom He wills. And Allah is all-Encompassing and Knowing.” [Qur’an 2:261]

Benefits of Charitable Giving for the Donor and Recipient

Al-Ayn is a registered 501(c)(3) charity and as such all donations through Al-Ayn are tax deductible. Learn how charitable giving can reduce your tax burden while supporting orphaned children through Al-Ayn.

 

Plan your donation strategy throughout the year.

Our year end tax receipt can consolidate all of your generous donations to Al-Ayn throughout the year for an easy calculation of your annual charitable tax deduction. Maximize your giving with matching gifts programs from your employer.

Your Impact

Your Donations Transform Lives 

By providing children with the resources they need, we can unlock their infinite potential, lift them out of poverty, and enable them to lead better lives. Every child deserves equal opportunities to learn, explore, and believe in the endless possibilities of their future.

Iraq

Iraq

Over 98,000 orphaned children are receiving comprehensive care in addition to monthly financial support in Iraq. 

Afghanistan & Ghana

Afghanistan & Ghana

Over 600 orphaned children in Afghanistan and Ghana are registered with Al-Ayn, receiving monthly financial aid to lift them out of poverty. 

Al-Ayn is a registered 501(c)(3) charity and is eligible for tax deduction.

FAQ

What is a tax deduction?

A tax deduction is an expense or amount that can be subtracted from your total income, reducing the taxable income on which you are required to pay taxes.

What types of expenses or donations can be claimed as tax deductions?

Expenses like mortgage interest, medical expenses, and charitable donations are common deductions. The types of deductions vary by country and tax laws.

How do tax deductions work and how do they reduce my tax liability?

Tax deductions lower your taxable income, which in turn decreases the amount of taxes you owe. The actual tax savings depend on your tax rate.

What documents or receipts are required to claim tax deductions?

You typically need receipts, records, or documentation to support your deductions, especially for expenses and donations. Requirements vary by deduction and tax laws. Al-Ayn provides receipts with every donation and you can also obtain an annual receipt with all of your donations here.

Can individuals benefit from tax deductions?
Yes, individuals can benefit from tax deductions, as they can reduce the amount of income subject to taxation.
Are there variations in tax deduction regulations in different countries?

Yes, tax deduction rules and regulations differ from one country to another. It’s essential to understand your specific country’s tax laws.

How can I ensure that I’m taking advantage of all available tax benefits?

Seek advice from a tax professional, research tax laws, and keep accurate records of your expenses and donations to maximize your deductions.

© Al-Ayn Social Care Foundation (US) | All Rights Reserved