factors to consider if purely from tax perspective:! P$ g6 \# j9 ^" h
) X9 Q7 x+ D. M4 {" w* E$ O, J5 Rtotal additional income ) |- v5 n8 n# o. `total taxes paid (assume it's not a cash job) 1 V% M) P: h$ e7 P) dtotal tax credit transferrable to working spouse- U' E( A, Y1 H
total tax credit for child day care ' @& e- k% ^: qtotal day care cost3 S( E# Y: J( W" f0 j
" M; t7 g. ~6 A
so the formula is:: F; t* i; M: F+ R5 H: S0 f1 E
R7 ~6 T1 U" E8 n
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.