factors to consider if purely from tax perspective: 0 H0 n0 m& x& F! y# _ 6 j6 F* _! c2 J0 Ptotal additional income " P! T) y, i; a d) B
total taxes paid (assume it's not a cash job) 4 q$ [ r" O% ?$ _0 d0 I. gtotal tax credit transferrable to working spouse ( ]/ ]( L7 n' p* C' f( B+ ~( k2 Y9 dtotal tax credit for child day care 2 o! }* r! h- Z4 Z3 Z' R6 {total day care cost* T2 i+ L5 h1 X1 s$ `. c
8 D+ I4 [" u' b Z5 i# C% V/ f' ]6 t, ^
so the formula is:' w# v& \+ S2 M8 X- O6 V5 T. y2 O8 o* C
6 b2 ^& b1 X& |! I5 b: e: S
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.