factors to consider if purely from tax perspective:$ W0 C1 r }# B. P, [
( i% m( @+ F$ ttotal additional income 4 q# V$ l% C* |5 ~0 t Ftotal taxes paid (assume it's not a cash job) ' `4 \- y* f; X, Y! C) xtotal tax credit transferrable to working spouse ' }( R5 y) G1 J' a( stotal tax credit for child day care! J* I0 Z( ?/ }; u3 }. \, L1 l- A q6 c& h
total day care cost 8 u; ]* x. |/ y) ? ` & r; K) b( } D8 F& ]8 wso the formula is:' L9 Y) u8 D( J. @- Z$ \8 u' j
. O2 O5 T* B" u
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.