factors to consider if purely from tax perspective:) d# o/ e( t& H% c O# V/ l
; J% }0 E& B. d! p" N2 o( w6 Mtotal additional income 5 M/ H4 l( H3 d6 x
total taxes paid (assume it's not a cash job) 9 o @* g' h6 U! htotal tax credit transferrable to working spouse' g/ p( m; d+ A" S
total tax credit for child day care( X- r2 P. \$ G# Q3 s
total day care cost6 _5 Q4 h3 e1 {* Z1 s! t
, A% v1 V# L! r$ {/ a
so the formula is: / u; I2 Z `& D6 P: M( X, d4 K3 C* n1 V& b _* N0 w
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.