Shaykh Dr. Yasir Qadhi summarises on the rulings of Zakah and how it is a means to purify our wealth.

Zakah was ordained upon the Believers and is obligatory once every lunar year so that we can purify our wealth. If we have 85 g of gold and 595 gm of silver , we are entitled to give Zakat.

There are 3 types of charity:

Nafl charity 
Zakat on our money
Zakat ul Fitr

Zakat of 2.5% is supposed to be given on the following types of wealth:

Wealth money gold silver currency
Business commodities

How does one calculate Zakat? Shaykh Yasir Qadhi elaborates explicitly and deserves a fair listen.

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