factors to consider if purely from tax perspective: 3 J$ M) x2 a6 a4 M$ k4 c& r7 J3 F& ?6 T0 `! M) C
total additional income 8 c8 e' w9 N8 Z( F, ~$ Itotal taxes paid (assume it's not a cash job) # z8 n8 | k+ b* ]total tax credit transferrable to working spouse 4 b) G6 l5 [; r' Q( atotal tax credit for child day care# Y$ H; }$ {+ L) f# x2 C
total day care cost ) {" ?, ~: y' m: q3 T + q. X, Z. R# Z0 z. qso the formula is:2 E8 T2 x+ A$ ^9 o4 y
$ U1 D6 ]+ i9 e
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.