factors to consider if purely from tax perspective: 7 }3 P" ~7 P8 p( j( d 0 Z3 H$ `6 g* c/ q" E/ I2 vtotal additional income : Y/ o* R0 ]! i+ G
total taxes paid (assume it's not a cash job) ' ?3 n$ y9 ?! f6 s. ctotal tax credit transferrable to working spouse ' m/ ^' q P7 q! _9 ntotal tax credit for child day care! W$ c" l& ~) K3 E( j- g
total day care cost ! C6 U1 `( t u# A8 h8 h $ J1 o! I$ Q+ O m8 xso the formula is:5 U8 {& w1 H+ q) d$ _. [2 R
5 Y% c( l1 L# ^. K' @& Jtotal additional income - total tax paid - total transferrable tax credit to working spouse (this can be claimed if one of the spouses has 0 or very little annual income) - total child day care tax credit =/</> total cost of day care.