factors to consider if purely from tax perspective: ' k% I4 ]5 v6 ^ 1 M3 W% }2 g: M/ l7 g. k* [total additional income 0 Y G, ?4 A2 A; y5 x7 \6 I" B# E
total taxes paid (assume it's not a cash job)9 X1 `# V2 ?; ^; r# Q& N
total tax credit transferrable to working spouse3 r5 K1 s5 G2 @7 ]
total tax credit for child day care4 t) @" l8 g' a1 |) `' f6 C4 h6 K
total day care cost H9 I, _- f( g% Y
1 b) g6 u7 L3 ]! {9 Lso the formula is: 2 K; J0 }& d- p5 k9 `" t$ u& e& F/ N0 u. }
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.