factors to consider if purely from tax perspective:4 s2 W- ? T$ s7 [1 A+ }
* `# I9 h3 A- ?8 T, f# d$ n7 O
total additional income * |0 Y) T7 t; S! u! X$ h, r
total taxes paid (assume it's not a cash job) * }$ H* U" h Y4 J! L# utotal tax credit transferrable to working spouse 1 \" E. j) ?7 o) S$ y2 Ftotal tax credit for child day care8 r L. _1 O9 X7 s/ T4 }& }1 z
total day care cost3 _3 w: [5 m' I; F1 p
- R- `' J8 s$ K8 t7 A
so the formula is: 4 [$ G* Q! \. M. Y& L. G. j) [ v- q7 p
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.