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How to Read Your Phone Bill
By Mellenie Runion, Marketing
Most business owners can not take the time to compute whether their phone bill is accurate, much less understand how to even read it. But not watching the little expenses of your business can have a big impact on your bottom line. You need to at least review what you are paying for. Phone bills are notorious for mistakes. Here are the basics:
Typical phone bills are separated into three sections.
Section One will be monthly charges:
- Monthly Charges
- Past-due Amounts
- Discounts
- Custom Features
- Monthly Recurring Charges
- Total Amount Due
Section Two will include taxes and surcharges from the local carrier, long-distance carrier, and the Federal Communication Commission (FCC):
- Subscriber Line Charge (SLC) capped at $3.50 a month
- Pre subscriber Interexchange Carrier Charge (PICC) fee for physical infrastructure. This charges is named differently depending on the company.
- Universal Service Fund Charge (USF) Subsidizes local phone service to lower income levels and provides internet access for schools, libraries and rural health care.
- Gross Receipts Tax Surcharge. Rates differ depending on the state. The proceeds are collected for local governments.
Section Three - Call summary details including date, time and length of call, the number called and the cost of each call. Call types:
- Local Toll - Calls outside of your local calling area, but within the local access and transport area (LATA).
- Intrastate Calling - Calls that begin and end within the same state but are long distance because they are outside the LATA.
- IntraLATA Calling - Calls that are made from your home LATA to another LATA within your state.
- Interstate Calling - Calls made to another state.
- International - Calls made to another country.
Review your phone bill each month and make sure you are being billed for the correct options and calls. If you don't understand a charge request a clarification from your provider.
Keep all your phone records and payments. Phone bills usually qualify as ordinary and necessary business expenses that can be deducted from your corporate taxes.
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