If I buy gifts for my family and my khums due day arrives before I give my family these gifts, do I have to take out khums on the cash value of the gifts? If I have to take out the khums, let’s say the value was $100 and I take out $20, can I consider the $80 in my calculations for khums for the following year?
Khums is due on the gifts that you purchased during the current year because they remained in your possession. In the following year when you give the gifts to your family, you can consider them part of your expenses for that year, hence you can consider the $80 in your khums calculations.