factors to consider if purely from tax perspective: 9 e S) T$ e6 M! Y' Z) s ( l" m, y! h9 V3 c( N: ototal additional income n: D: O- L5 r8 d4 }& o+ }2 Z
total taxes paid (assume it's not a cash job)" `' \7 N! r9 p _$ x
total tax credit transferrable to working spouse ' y) N& [/ Q }) Mtotal tax credit for child day care 8 M2 Y5 E- G; E! @6 gtotal day care cost8 d8 j1 T: Y7 c; C X1 c
h/ q6 }5 P: [% B/ U" K
so the formula is: b# I9 w# c8 A5 ~9 @( p 9 R) _' V2 g; j- k2 h9 ]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.