factors to consider if purely from tax perspective: 0 [/ Q+ K+ R5 w; `! X0 o, @" a9 b6 R0 U' @7 q8 b1 J
total additional income 1 e( _- q$ k+ Y# L8 m1 E8 k0 V
total taxes paid (assume it's not a cash job): v. b) f8 m& M0 b! d( ^
total tax credit transferrable to working spouse ( n) a1 Z" ?; x7 p$ b$ ctotal tax credit for child day care & ]: r5 X# n( r. K4 ?7 L, Btotal day care cost 5 n6 ]) |% m4 F) q3 ? 9 U8 |+ r* \* o# xso the formula is:8 b5 O5 K9 | y4 u2 `
2 U5 d* q' m+ n( C0 L& btotal 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.