factors to consider if purely from tax perspective: * p* q4 \% p) G7 T0 T u% o ( t; k, W4 G( |; Y Q! rtotal additional income 2 e* Q, F2 ^! L6 r: |total taxes paid (assume it's not a cash job)) t1 D' K0 U* z
total tax credit transferrable to working spouse % G7 E% L' {. o# Stotal tax credit for child day care : }: ^- Q& f$ g6 K+ Z, a/ o- Q' E s" Utotal day care cost $ g7 y/ U4 l) {6 r% v! x) o# a. o. k4 l+ y* q# U! Q; _3 A/ u5 V- `
so the formula is:" V0 `, z; L$ [! O& N: U
1 [% s% p8 y( `( k: f2 Ltotal 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.