factors to consider if purely from tax perspective: 6 p" r6 z3 @. W& u) D; w' J $ a3 y6 g8 n% U) ototal additional income ' n; O y$ n: {# D& ~9 D$ \; Mtotal taxes paid (assume it's not a cash job)+ \) H3 v& W$ y# V) m- f+ ^8 @& w
total tax credit transferrable to working spouse 6 F5 O3 C4 c9 l) vtotal tax credit for child day care- D( P% p4 a$ } I
total day care cost ) s) _/ A5 a. d# e; i6 b6 [) Y1 ?5 s I" i" N: {
so the formula is:( Q/ ^8 e: B e5 Z
4 b' T6 \/ N! u: I% P
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.