In order to sell and save for college through Jutse.com you must have a 529 college savings account with the participating state. Click on a button above to start now.
Jutse is a cutting edge site that will enhance one’s ability to obtain and fund a 529 College savings account by utilizing new or old items, including but not limited to, collectibles, arts and crafts, garage sale items, children’s works, or antiques. The ecommerce/auction based site will allow members to post their items for sale and upon close of the transaction, the funds (less a small transaction fee) will automatically transfer to the 529 fund they chose. The patent for this is filed and pending.
All you have to do is sign up, list your items for sale, select a 529 College Savings Plan from our available options, and upon sale of the item, your funds (less a small transaction fee) will be deposited into the 529 account you chose. It’s simple, easy, and a great way to accumulate the funds you need to pay for an education. If you already have a 529 plan that is one of our participating plans just enter the requested information on the Member Registration page. How much can you earn? That’s up to you and how much time and energy you want to invest.
For those who just want to shop and don’t have a need to pay for college, you will have a great time shopping and buying our members’ items at great prices. Think how good it will feel knowing your purchase just helped someone attain their dream of a higher education. That’s right! Your purchase will help make their dream a reality!Sign Up and start selling and saving today!
Jutse offers the member an independent means of accumulating funds to their 529 College Savings Account. That's right, a way to fund your 529 account without tapping into your paycheck! Dependent on you taking the time to post your unwanted items for sale and someone out there that desires to purchase that item. It's that simple. Jutse will handle the rest by making the deposit directly into your 529 account. Members can receive newsletters and articles keeping them up to date on the latest trends in Higher Education and 529 Accounts. Jutse will aggressively market the site using web advertising, social media, as well as, targeted advertising.
Shoppers have the opportunity to shop for great items at great prices and knowing your purchase will help send someone to college. What a great feeling it will be to know you not only just got a great bargain on a wonderful item but that you are helping to make someone’s dream of a higher education a reality.Sign Up and start selling and saving today!
My name is Lori Kaylor. I am the President and Founder of Jutse.com. I am the mother of four and understand the difficulties in financially affording a higher education for our children in today’s world. I am a graduate of The Ohio State University and have been an entrepreneur for many years. With a strong background in finance and strategic operations, I am dedicated to making Jutse the frontrunner as the alternative “New Way to Fund a Higher Education.” Jutse boasts a cutting edge development team and patent pending state-of-the-art processes that make the site not only simple to use but fun and exciting!Sign Up and start selling and saving today!
Jutse is an innovative, fun, and easy way to sell items and earn money that is deposited directly into your 529 account with one of our participating plans. First, become a member (membership is free). If you already have a 529 college account at one of our participating states just enter the info requested. If you don’t already have a 529 account just click on the link, read the information provided about the available plans, make a selection, and setup your Jutse member account with the requested information. Then, all you have to do is post your items for sale. The money paid by the buyer (less a small transaction fee) will be deposited to your college savings account. Imagine, that garage can be cleaned out. Your storage room can be emptied. You can even have little “Jimmy/Jenny” sell his artwork. There has never been an easier way to earn disposable income to fund a college education. Start saving today!Sign Up and start selling and saving today!
Help make a child’s dream of going to college a little easier. Shop Jutse and the funds will transfer to the member’s 529 College Savings Account! It’s a win/win situation! You get the item you want at a great price and a child gets a little closer to having the money for tuition, books, or housing to fulfill their dream of a higher education. There is no membership fee to shop and Paypal makes your transaction safe and secure.Sign Up and start selling and saving today!
Jutse is a new, fun, and easy way to earn money for your kids’ college. Sell stuff and the money is deposited directly into your 529 account with one of our participating states. First, become a member (membership is free). If you already have a 529 college account with one of our available plans, just enter the information requested. If you don’t already have a 529 account just click on the link, read the information provided about the available 529 plans, make a selection, and link it to your Jutse account by entering the requested information! Then, all you have to do is post your items for sale. The money paid by the buyer (less a small transaction fee) will be deposited to your college savings account (your 529 plan). Imagine, your garage can be cleaned out. Your storage room can be emptied. You can even have little "Jimmy/Jenny" sell their artwork from school! There has never been an easier way to earn disposable income to fund a college education.Sign Up and start selling and saving today!
A. Jutse is a member based ecommerce/auction website that offers a venue to earn disposable income that is directly deposited into your 529 College Savings Account per your instruction. Jutse is a third party vendor and not affiliated with the specific 529 plans.
a. Sign up to become a member
b. Setup a 529 account from our choices if you don’t have one already. Then enter the requested information on the registration page. If you do have an account with one of our available plans just enter the requested information on Jutse’s registration page.
c. Post your item for sale and beginning saving.
d. If you don’t enter your 529 account information before you start selling you can come back later to enter that information. If you sell an item before you enter your 529 account information Jutse will hold the money in your Jutse account to transfer to your 529 account once you enter the information. You will receive reminder email!
No. Jutse simply deposits your funds per your instructions to the plan you choose from the list of have agreed to accept deposits. Proceeds from the items you sell will be transferred to your 529 College Saving Account(s) after you've accumulated $15 or more.
It is that simple. The flat fee of 8% will be charged and the balance will transfer to your 529 account!
A. No. You set up your plan directly with the Plan Administrators who manage your funds.
A.No. Jutse does not advise on plans nor endorse any plans. Jutse make no representation about the performance of any plan. You should do your research to determine which plan best fits your needs. There is some level of risk with all investing.
A. Jutse stores the information provided securely so the money your earn can be sent directly to the plan you have set up. The plans require this information to be included with the transfer of your money to ensure it is credited to the correct account. Jutse will not share your account information with any outside party.
A. Not if there are no changes to your 529 account. If your account does not change Jutse will send the deposit to the stored account. If you set up a new account and want money to go to that account your will need to reenter the information at that time.
A.If you have multiple 529 accounts, Jutse will allow you to enter each one (that is a participating plan) and allocate what percentage of each transaction you want to go to each account.
A. No items should be correctly priced and there needs to be a buyer willing to purchase your item.
A.Yes. Please refer to the entire list in the Term of Agreement section. These items include, but are not limited to, alcohol, underwear, animals, endangered animals pelts or skins, pelts or skins from domestic animals, catalytic converters or test pipes, credit cards, cell phone service contracts, etc.
A. You are safe every time you place an order on Jutse. When you purchase an item your money is not transferred for a minimum of 21 days. You will be able to track the item(s) that have been shipped via the UPS tracking number. If we have not heard from you or the seller within 21 days that there is a problem the money will be transferred to the sellers account. If there is a problem please notify us at firstname.lastname@example.org before the 21st day after the sale. If you notify us before the 21 day deadline Jutse will investigate the claim before releasing any monies. However, remember this transaction is between you and the seller and it is important you try to work directly with the seller to resolve issues.
To avoid a problems, we advise sellers to be as descriptive and detailed as possible when creating your listings. We encourage buyers to review the listing photos, description and item condition, and if you have any questions, please ask the seller for additional details and/or photos. Sellers are usually more than happy to provide additional information.
Please note, on the 22nd day after the sale, all sales are final and non-refundable.
A. A Section 529 college savings plan is a tax-advantaged state-administered investment program that is authorized under Internal Revenue Code Section 529. These plans allow investors to save money in an account in which the earnings will grow free from federal income tax and, when used to pay for "qualified higher education expenses", may be withdrawn federal income tax-free. In many states, a participant can receive special state incentives, including state tax treatment that mirrors the federal tax treatment, tax deductions/credits and/or other state tax benefits, based on participation in their state’s program(s).
Savings: Savings plans (also known as investment plans) enable participants to deposit money into a college savings account on behalf of a designated beneficiary. Amounts contributed and any earnings on the account may then be used to pay the beneficiary’s qualified higher education expenses. Contributions can vary, depending on the individual savings goals. The plans offer various investment options that provide a variable rate of return usually based on stock or bond funds, although some plans offer investment options that guarantee a minimum rate of return.
A. Generally, anyone can be named the beneficiary of a 529 account regardless of their relationship to the person who establishes the account. You can even establish an account with yourself as the named beneficiary. The only requirement is that the beneficiary must be a US citizen or a resident alien, and must have a social security number or federal tax identification number.
A. Yes. Since only one account owner can be named per account, family members may choose to open their own account for the same beneficiary.
A. A 529 account can be opened by anyone. Grandparents, other relatives or family friends can all be account owners, or simply choose to contribute to an existing account. In most states, a trust, corporation, non-profit or government entity can also open an account.
A. No. Funds can be used at any eligible educational institution in the country to pay for qualified higher education expenses. “Eligible educational institutions” are accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate level or professional degree, or another recognized post-secondary credential. Certain proprietary institutions and post-secondary vocational institutions and certain institutions located in foreign countries are also eligible educational institutions. To be an eligible educational institution, the institution must be eligible to participate in U.S. Department of Education student aid programs.
Change the beneficiary to a member of the beneficiary's family.
Defer use of your savings and leave contributions invested in the account.
Withdraw the assets in your account for a “non-qualified” distribution (a distribution that is not for qualified higher education expenses). Earnings (but not contribution amounts) would be subject to state and federal tax plus a 10% federal tax penalty on the earnings.
A. It is never too late to save for higher education. You may open an account for an individual of any age, and the account may be used immediately.
A. You have several options available if the beneficiary decides not to go to college:
A. Earnings (but not contributions) on the amount you withdraw would be taxed at the scholarship recipient's tax rate, but will not be subject to the 10% additional federal tax penalty. You can also, of course, use your funds to pay for expenses not covered by the scholarship, such as room and board, books and other required supplies.
A. A qualifying family member includes:
Natural or legally adopted children
Parents or ancestors of parents
Siblings or stepsiblings
Nieces or nephews
Aunts or uncles
In addition, the spouse of the beneficiary or the spouse of any of those listed above also qualifies as a family member of the beneficiary.
A. Anyone can participate in a 529 plan regardless of income of the account owner and in most states, regardless of the age of the beneficiary.
A. Each 529 plan can provide the forms necessary for changing the beneficiary on an account. Contact your 529 plan to determine the specific requirements and forms necessary to complete this procedure. Depending on the relationship of the new and old beneficiaries, changing the beneficiary of an account may trigger a taxable event, which could also include a penalty, gift tax or both.
A. Many financial planners, tax accountants, and other financial advisors recommend 529 plans to their clients as a program that may fit their college planning needs. You may want to consult an advisor to see if 529 plans would be best for you.
A. Beginning in January 2002, individuals can contribute to both 529 plans and Education IRAs (now calledCoverdell Education Savings Accounts). The Economic Growth and Tax Relief Reconciliation Act of 2001 permits contributions to the Coverdell Education Savings Account to cover K-12 education expenses on a tax favored basis. Individuals may benefit by funding a 529 plan for the child's college expenses and utilizing the Coverdell Education Savings Account for elementary and secondary education expenses.
A. Many states have chosen to contract with an investment manager to work with the state to develop investment portfolios and options that will help investors meet their college savings needs. Federal law prohibits the investor from having direct control over the selection of specific investments; therefore the state and the investment manager typically offer multiple savings options for the investor to choose from when they open an account. The account owner may change investment options subject to certain federal tax law limitations.
A. Generally, anyone can make a contribution to an account for any beneficiary. However, you should contact the 529 plan of your choice to determine any restrictions that may apply. You may find that you will only be eligible for specific state tax incentives by being recognized as the account owner.
A. The most common investment option is the age-based allocation strategy in which the age of the beneficiary determines the specific mix of investments. As the child ages, your investment mix is automatically reallocated and becomes more conservative as the beneficiary approaches college. There are many other options available, including 100% equity funds, fixed income funds, stable value funds, as well as a variety of equity and fixed income options within many plans. Some states offer guaranteed or principal protected options, as well as FDIC insured bank options.
A. You may transfer all or any portion of the funds already invested in a particular Investment Option to another Investment Option once per calendar year or upon a change of the Beneficiary of your Savings Trust Account to a Member of the Family of the Beneficiary. However, each time a new contribution is made to an account, the investor can select a different investment option for the new contribution into the plan
A. Yes. The account owner can choose to move funds from one state’s 529 plan to another states’ plan one time within a 12-month period for the same beneficiary.
A. No. In most states, you can open an account for your child, grandchild, nephew, friend – even yourself. Review the program materials for naming and changing the designated student beneficiary.
A.Earnings in a 529 plan grow tax-deferred and are free of federal income tax when used for qualified higher education expenses under Internal Revenue Code Section 529 (26 U.S.C. 529). Qualified higher education expenses include tuition, mandatory fees, books, supplies, and equipment required for enrollment or attendance. Room and board expenses are also eligible for students enrolled half-time or more based on the current allowance for room and board determined by the eligible educational institution for federal financial aid purposes, or actual invoice amount charged by the institution to the beneficiary, if greater. In addition, qualified higher education expenses also include expenses of a special needs beneficiary that are necessary in connection with his or her enrollment or attendance at an eligible educational institution.
Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. Additionally, most states allow tax-deferred earnings and tax-free withdrawals for qualified higher education expenses, and some states allow families to deduct the full or a partial amount of their contribution from their state income taxes.
A. Unfortunately, there is not a federal income tax deduction for contributions into a 529 college savings plan.
A.Many states offer residents a deduction or credit on personal income tax returns for contributions made to the in-state program and in some states for contributions to any 529 plan. As a general rule, you should contact the program in your state to determine the specific state tax rules that apply to investing in a 529 plan.
A. As long as the withdrawal is used to pay "qualified higher education expenses", it is exempt from federal income tax.
A. Most states do not tax withdrawals used to pay “qualified higher education expenses”. Several states do not have an income tax, therefore they do not tax distributions from 529 plans. As a general rule, you should contact the program in your state to determine the specific state tax rules that apply to investing in a 529 plan.
A. Qualified higher education expenses include tuition, mandatory fees, books, supplies, and equipment required for enrollment or attendance. Room and board expenses are also eligible for students enrolled half-time or more based on the current allowance for room and board determined by the eligible educational institution for federal financial aid purposes, or actual invoice amount charged by the institution to the beneficiary, if greater.
In addition, qualified higher education expenses also include expenses of a special needs beneficiary that are necessary in connection with his or her enrollment or attendance at an eligible educational institution. However, qualified higher education expenses are reduced to the extent that such expenses are taken into account in claiming the Hope Scholarship Credit or Lifetime Learning credit.
A.An individual may contribute up to $14,000 annually ($28,000 for married couples filing jointly) without paying gift taxes or filing a gift tax return (assuming no other gifts are made to the beneficiary in the same year). You also may accelerate up to five years’ worth of the annual exclusion amount and reduce the value of your estate by contributing up to $70,000 ($140,000 for married couples filing jointly) per beneficiary (this amount is subject to “add-back” in the event of the participant’s death within five years and also assumes no other gifts are made to the same beneficiary during the same period).
A. The beneficiary or the beneficiary’s parent may claim a Hope Scholarship Credit or Lifetime Learning Credit for qualified tuition and related expenses, provided other eligibility requirements are met, but cannot use the same expenses to justify a tax-free distribution from a qualified tuition program.
A. No. Your child will still be required to meet entry requirements as determined by individual colleges or universities.
A. When it comes to financial aid, ANY assets that you or the beneficiary own (not just 529 plan assets) can affect your eligibility for need-based financial aid. With 529 plans, your account is considered to be an asset of the account owner. Assuming the account owner is the parent, this means that, on average, about 5.6 percent of the value of the account is considered in determining the Expected Family Contributions (EFC). The EFC is the amount the family of the beneficiary is expected to pay toward that beneficiary's higher education. With many other savings vehicles, such as a custodial accounts or assets that are in the name of the student, 20 percent of the value of the assets is considered in determining the EFC. Remember, the majority of need-based financial aid is in the form of student loans, so whatever savings you accumulate for college expenses may help reduce the parent’s or student’s future debt load.