factors to consider if purely from tax perspective:, ?$ X: m/ P5 K1 n6 b% W
& D/ v9 X& H, C8 z
total additional income 8 u( Q7 p' b$ v( v6 l: atotal taxes paid (assume it's not a cash job) ! @' Z& U1 N+ C6 \: K1 vtotal tax credit transferrable to working spouse + m8 B" w$ T! Ntotal tax credit for child day care7 @% C& O$ V- n5 R+ U3 u1 y; L; {
total day care cost ) x N& b1 g2 H* s, W * w% P) Z( u' Z( m2 Vso the formula is: : L9 G5 T2 @$ _1 I7 v M7 i; K3 c3 K/ ^, _0 h+ u' Z
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.