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Is Zakat Due If Jobless While Starting New Business?
AA –
1) Suppose a man was the main source of income for his household. He lost his job.
2) He is now trying to start a new business. It is uncertain if/when that takes off. Could take 1-2 years before he can draw any income from it. In the meantime he may have to invest in this business out of his own pocket.
3) His wife works, although her income is 1/3 of what he was earning.
4) They do have sufficient savings that the household is operating comfortably. They also have some 401k, IRA, and college savings set aside as well.
Does he owe zakat during this time when he’s building his business, on the usual asset base – savings, etc.?
OR, is there some level of exemption (not entirely of course) for his situation?
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