factors to consider if purely from tax perspective:' N) E( Q: s }8 O- f3 x7 a' ^: s) |
* i5 s/ J0 K( Ytotal additional income 7 j$ O6 [9 w5 d6 K/ I) f0 }
total taxes paid (assume it's not a cash job)$ A3 q( p. o$ e! c }/ w2 l
total tax credit transferrable to working spouse . M2 R; ]! [: V" I2 Y% I9 dtotal tax credit for child day care ; n, H; n6 H; xtotal day care cost 6 U+ Z& p! Q( p ) R$ F* j# i' W# Q7 Bso the formula is: , p2 x, K; S b( N% Y8 j$ B H2 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.