factors to consider if purely from tax perspective:7 `4 _6 z* J3 l$ G9 |% s8 r* I
! `: {8 V7 Q0 r/ W* @2 j$ _total additional income ( g" o/ E, n- etotal taxes paid (assume it's not a cash job) 5 y( F& e& z" \# |. g& F7 Etotal tax credit transferrable to working spouse : ]/ _3 e; }1 B1 Mtotal tax credit for child day care ! \2 _1 H' H" G; H" M5 {total day care cost$ u3 `. j# S+ R' i
8 n' U6 {5 F. H$ O6 a
so the formula is: , V/ ~6 `7 J9 ^5 w7 X/ y$ s* m$ s( F* b+ d( n
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.