factors to consider if purely from tax perspective: 0 W/ o0 D3 H9 J ' |. c. L; j/ t8 }2 {+ Ktotal additional income ' t7 z6 S4 A) R0 M# \; d) I
total taxes paid (assume it's not a cash job) " }3 I: ^9 c! \5 U( s: V7 G8 Htotal tax credit transferrable to working spouse. q5 M' F$ ?* {7 ?
total tax credit for child day care# N" [$ L+ E, s; t0 X* O
total day care cost * N: I4 v. m& U3 ]# n4 b 0 o+ w3 T" Q: jso the formula is: # c9 P' {4 l' R6 v) n& U3 L6 l6 y% S! G7 y( a% E9 _; l
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.