factors to consider if purely from tax perspective: 0 L" J. q9 r# j; x, A8 N * G" w+ s' Z" Q4 O& ototal additional income , c8 J' @2 @+ p0 p+ ?, _
total taxes paid (assume it's not a cash job) - ?& ~3 [9 q: utotal tax credit transferrable to working spouse 0 b1 p3 {6 ]+ P/ M$ M; }total tax credit for child day care; o+ R) l8 q9 X! a4 D
total day care cost 1 X& p) H l) U. O B* I; M$ r 5 v" g& i/ w1 }& c6 W1 oso the formula is:/ O4 \, o. R! F U D4 M
5 q+ g1 W" |" z1 z* rtotal 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.