factors to consider if purely from tax perspective:: X. R* `! y( F& F a8 H3 V
6 a5 e( N# Y9 {1 J! F8 Atotal additional income 0 a# v1 F3 n" C2 k" Vtotal taxes paid (assume it's not a cash job)( G( H$ n- [3 \- K* D7 b4 @
total tax credit transferrable to working spouse, |# }) s5 Y: |
total tax credit for child day care% m$ F( `' N9 q6 Y" L0 S9 e2 x
total day care cost6 R6 {4 F9 Z0 ~7 x5 l
% z! P: h! s( ?7 y% V; X
so the formula is: 6 i- v) n/ c4 e # V6 q# Y) b: Stotal 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.