factors to consider if purely from tax perspective:4 O* [* W o# V( k% Q2 s
* I' ^% o3 B' x B& f- o5 u. `. Dtotal additional income & d ~. ~0 m- qtotal taxes paid (assume it's not a cash job) , m A f. y- {& f8 Ntotal tax credit transferrable to working spouse 5 k8 z7 ^% d- {$ y( j$ j; ntotal tax credit for child day care, E& z' ?7 u/ @, M
total day care cost- V; F. f4 c- ^8 B* C# |6 ]
) Q0 a* N/ ^: z; d
so the formula is: 5 U! P/ x9 z" m4 | 6 C: G" ^6 \4 r7 ?9 Utotal 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.