factors to consider if purely from tax perspective: 7 s1 w0 i K: j; l8 `( k / n) z" ~3 L* [8 J0 Ntotal additional income - L" @! M% L5 \& ~
total taxes paid (assume it's not a cash job) ' K7 f6 P: f7 n" T3 F' P) jtotal tax credit transferrable to working spouse9 w# p& e0 P3 f6 `" z+ e4 _( d
total tax credit for child day care+ @, B0 n& D$ v0 A6 e$ C( @
total day care cost ! t2 p ^' n ~4 l! c1 ^' f& F 2 }% k* B& @& k7 [# r' Gso the formula is:# V0 e9 r* D# u) ^2 {
8 r+ @! D' I& X2 m3 A! H
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.