factors to consider if purely from tax perspective:5 j6 b5 R5 x6 L5 Q, e
1 G& {/ P2 x3 [4 {6 |total additional income + [4 E, L/ D# s6 |/ y0 ntotal taxes paid (assume it's not a cash job) / j7 k' ^$ Q; V& W) dtotal tax credit transferrable to working spouse 2 i+ f4 z1 ?, L3 B8 |total tax credit for child day care 6 J" _4 b* n- w$ W* g9 M+ e5 [! ^total day care cost 8 a; B5 b0 Q2 R& F& t0 h* m4 \% |: G" j* C0 i- W9 E
so the formula is: - X0 x! x" Y6 M3 N/ {) m4 ]! m6 H2 V' Z& G
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.