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Best Practices
Home Sale Programs
Altair recommends cost effective solutions that maintain or improve employee service satisfaction through implementation of a variety of best practices. Many of these practices revolve around home sale and tax assistance procedures.
- Utilize a Buyer Value Option program, rather than Direct Reimbursement.
- If considering a Guaranteed Purchase benefit, implement one defined method of determining value—such as the average of two appraisals consistently applied to all eligible employees.
- List homes within 3% to 5% of the home value.
- Provide incentives or bonuses for home sale prices at or above 97% of home value—such as 2% or 3% of the home’s value as a bonus.
- Incorporate recommendations from Altair’s Client Solutions Center for marketing of inventory and unique homes.
- In 2007, Altair published a Best Practices paper regarding the deeding process.
Tax Gross-Up Decisions
Tax assistance, commonly referred to as tax gross-up, is a benefit determined by client policy and typically applied to all taxable income. Altair’s Client Solutions Center can assist you in selecting the tax methodology that makes the most sense for your employees and your company.
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