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Breast Cancer: Write It Off Your Health & Taxes

10/21/2016

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October is Breast Cancer Awareness Month
Firstly, I would like to extend a huge congratulations to all the breast cancer survivors/winners! You are an inspiration to all of us that are still battling this disease. To all the fighters out there, keep fighting! You’re winning!
 
“According to the World Health Organization, breast cancer is the most common cancer among women worldwide, claiming the lives of hundreds of thousands of women each year and affecting countries at all levels of modernization.” (National Breast Cancer Foundation). Awareness is one combative way we can all do our part and contribute to writing off this disease – permanently from all our lives. Men – you’re not exempt, because men can get breast cancer too.
 
Good News
In recent years, perhaps coinciding with the decline in prescriptive hormone replacement therapy after menopause, we have seen a gradual reduction in female breast cancer incidence rates among women aged 50 and older. Death rates from breast cancer have been declining since about 1990, in part due to better screening and early detection, increased awareness, and continually improving treatment options. (NBCF)
 
Taxes
You may be able to write off some or all of your expenses incurred as a result of treating this disease. Other than bore you with the many ways you could have a benefit on your tax return, please remember to keep records or your receipts, payments, prescriptions, and/or any documentation associated with treating this disease – and inform your CPA.
 
Interesting Facts
  •  One in eight women in the United States will be diagnosed with breast cancer in her lifetime.
  • Breast cancer is the most commonly diagnosed cancer in women.
  • Breast cancer is the second leading cause of cancer death among women.
  • Each year it is estimated that over 246,660 women in the United States will be diagnosed with breast cancer and more than 40,000 will die.
  • Although breast cancer in men is rare, an estimated 2,600 men will be diagnosed with breast cancer and approximately 440 will die each year.
  • On average, every 2 minutes a woman is diagnosed with breast cancer and 1 woman will die of breast cancer every 13 minutes.
  • Over 2.8 million breast cancer survivors are alive in the United States today. 
 
 I also want to say ‘Thank You’ to all the associations, foundations, professionals, family-members, and friends that support the cause to create aware and fight breast cancer – Thank You!
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    Dale Largie, CPA

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