Don't neglect this important Fardh and pillar of our faith!
Zakat is a levy on the property of the wealthy for distribution to society's poor. The Arabic word "zakat" has connotations of purity, increase and blessing, and paying it purifies, increases and blesses the remainder of one's wealth.
Zakat purifies your wealth, this money is entrusted to you by Allah to be passed on to the needy.
Zakat is 2.5% of all zakatable wealth that has been in your possession for a lunar year. If your wealth amounts to less than a MINIMUM figure, termed the nisab, then no zakat is payable. This threshold limit is 87.48g (3oz) of gold, or its equivalent in cash (about $1700).
To find out how much this is, open the Online Zakat Calculator which is regularily updated with the latest gold prices.
If you do not know where to give your zakat, you can give to Islamic relief by going here: https://www.irw.org/donate/ -- on the drop down menu, select zakah, its as easy as a click of a mouse.