factors to consider if purely from tax perspective:2 @5 c0 A/ z/ Z, j* K, h# V p. @* ?
) B4 m4 ?- i% l$ Z) V, K+ i) E& n
total additional income 9 r! K! M. f. g7 P* P) d) T
total taxes paid (assume it's not a cash job)6 U! f. J5 V7 L% t" E1 x1 e
total tax credit transferrable to working spouse9 v- S! _% I, r6 U5 V9 _
total tax credit for child day care + F m% s6 Z! _+ w$ m- W3 atotal day care cost8 A$ M8 k$ d8 C+ v( |" P0 t
. v. v) Q& l9 ~
so the formula is: 3 O/ e9 z! i8 M' D4 S' {4 ~- H1 C( ~
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.