factors to consider if purely from tax perspective: 5 K3 U' x o1 I* u5 c: E( T! v! g0 z1 v
total additional income ) |* H7 Q/ `$ f: `2 p
total taxes paid (assume it's not a cash job) 2 l- h' m6 q% y/ B. stotal tax credit transferrable to working spouse" Q% x" U8 z, A! k- A) U5 X0 q- D
total tax credit for child day care! Y2 t8 d7 E& P
total day care cost 2 F; S8 ~8 q4 f% @, ?' \# w$ W V5 g8 O! S4 n! |& b- U/ o
so the formula is:- b7 s5 `" p) p, Z K7 d" B* x
& x8 t' |4 {+ N; y$ f* F4 ytotal 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.