factors to consider if purely from tax perspective: / E& e# B y5 i, t * ~3 F( o$ z; e- atotal additional income - p1 j/ _8 V9 D9 D* W
total taxes paid (assume it's not a cash job) ( f9 S: s7 R' B. Y( Z- itotal tax credit transferrable to working spouse 4 s2 @% w" R/ ztotal tax credit for child day care& Q# m7 n: C. @7 i
total day care cost% D+ x$ n0 S |5 ]# d0 w, @; |
2 Q) Q7 ^. J( k" k* o4 o0 Mso the formula is: 7 {7 x9 B2 I- [9 W$ ?" ?) B8 d 6 D& z+ O7 z9 w4 P; m/ c, {: 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.