factors to consider if purely from tax perspective: ) f( f5 l6 Y b5 x+ v2 R5 Z C: x & p/ P- E& l7 ztotal additional income 5 d- K1 G7 K n% _0 Q" M
total taxes paid (assume it's not a cash job) ; P2 z4 d2 |; L3 Htotal tax credit transferrable to working spouse5 E% B: n' s% Y; O P9 l
total tax credit for child day care N6 f, y3 T( |$ Y) t( @0 d
total day care cost 9 Q: }4 N, D- o! ?: J' h$ Z0 @ ) D: E/ W- U0 G* ~9 Y1 p& L2 kso the formula is:& c: l. h [8 n+ a. H6 c$ E# j
! \8 f! e) n9 q+ J; itotal 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.