factors to consider if purely from tax perspective: 8 e' K$ }; C! S( z( b. X* b4 @ 2 T# {1 j. K) _+ \# @total additional income $ T4 ?; W. O5 K
total taxes paid (assume it's not a cash job) + T; }) @% n( L+ B/ ctotal tax credit transferrable to working spouse ) f ^* ^" l2 Y/ E" _9 Utotal tax credit for child day care $ z5 T9 K6 J% stotal day care cost 5 ~2 j3 A" J: V0 c$ r" R/ B6 W8 N9 N' j. K
so the formula is: ( D) c2 L; X$ W) H7 o& _% E) K: L8 I% O) q+ r }' T& Y- b" y
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.