factors to consider if purely from tax perspective:6 Q. W; Q* H3 V7 e0 T% M8 y
' P! }" u( t4 K" ktotal additional income 9 p/ ?* a8 G) g. r3 v& e0 _total taxes paid (assume it's not a cash job)3 X4 t% W ^. @1 ~+ D5 n8 E, S
total tax credit transferrable to working spouse 1 k+ X) d. w& x: z) L' R% X6 n1 xtotal tax credit for child day care ; t" J0 h$ N; l# |" rtotal day care cost" H4 O4 r! M7 H7 Q9 v5 Q8 ]0 g
# R' |3 E* H% k( O& |& x$ n% |4 ^so the formula is:) u( ?: m |2 y$ {! @% P. s) x
- ^4 ?; T: N8 n0 m2 g& b
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.