factors to consider if purely from tax perspective:' y" Q Z: M% G% Z
' l6 L3 A8 Z# i8 W3 ]total additional income 6 w L% r1 s2 u2 A6 Vtotal taxes paid (assume it's not a cash job) # |/ ]9 A1 u) Ntotal tax credit transferrable to working spouse9 i, }5 N6 ]! C" Q" e
total tax credit for child day care : g/ S( e0 X; Btotal day care cost* Q7 H+ a3 |7 m9 ?$ O5 w
( r- e' N4 l: h9 A9 u D$ F% V
so the formula is: e# b; z4 t @- ^# |
& @- g5 b" E [$ A" g/ Y( f
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.