factors to consider if purely from tax perspective:$ u9 @- i) o! `2 M: d! o J
( |* x4 \7 r8 Q7 ttotal additional income ; N' }9 q" W4 Z& A$ h; w Dtotal taxes paid (assume it's not a cash job) # |" r$ {+ R \" _# Htotal tax credit transferrable to working spouse' A5 X0 [9 N4 \, j+ o7 a/ l/ m- f
total tax credit for child day care& I: j+ y" ~, Z: P. S
total day care cost 8 v$ j8 R5 \( W. F e6 O9 ~+ O/ l7 I4 F& V3 z
so the formula is: ; n- c3 k( i# T2 O! M% C 8 F) {1 b; V7 z$ Gtotal 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.