factors to consider if purely from tax perspective: c' k C2 N3 t( ?; |( o ( {$ k0 |/ U( {$ ~! `- {( Utotal additional income 1 F. c4 q4 d$ i, U& ^( O
total taxes paid (assume it's not a cash job)( j6 C& r1 S) L9 M, m. U+ T
total tax credit transferrable to working spouse : i" q* w/ f7 z2 K2 ^& Ytotal tax credit for child day care * O1 l# b- z( K% y" L6 ztotal day care cost M' _/ g# y! M' |+ @& z
7 N* T" j* ^* v# `# a
so the formula is: 1 X4 K" a4 W) h4 f0 B/ ^2 b1 b" k7 ~6 ?3 p0 P8 f: H8 j
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.