factors to consider if purely from tax perspective:$ N& E/ @! g% ~) ` w; C
" e% f0 s Q$ l( u; r
total additional income 8 w1 n% @2 s0 S e0 I) p+ ztotal taxes paid (assume it's not a cash job); |6 V. S/ a5 V
total tax credit transferrable to working spouse. G6 u8 y+ I4 R% q/ G3 @
total tax credit for child day care7 M- @5 s# E6 |0 j! b' z" P( p
total day care cost $ p+ O: c# e+ L, ?: ]3 w* b( @# X0 @ Z& d, u. @
so the formula is:9 P/ ?, G3 B& [" B. Q
* v$ B" K9 u4 P/ @5 @1 m: y) T- `. Etotal 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.