factors to consider if purely from tax perspective: - ^7 H' @/ V c, Y8 }6 Z6 D* |5 S$ O& n0 j t
total additional income , B- ]6 \9 V8 `' u7 |
total taxes paid (assume it's not a cash job) . Y/ C$ B5 e+ B& W Qtotal tax credit transferrable to working spouse K' q; l. T) j2 e9 qtotal tax credit for child day care; E# v/ G! u; i/ M
total day care cost+ z8 s7 {. s% h
" P3 W) b/ i" ~/ j1 pso the formula is:3 ^0 P) E# ]/ s. q+ b9 Q
3 u( m# @" \$ n
total 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.