factors to consider if purely from tax perspective: . I9 u5 O1 b" s7 `8 b. P2 W0 n4 W* h2 ] V1 N
total additional income ~4 @+ k" x) i( a, |9 O
total taxes paid (assume it's not a cash job)9 W; D5 b& X% C
total tax credit transferrable to working spouse 2 Z+ o9 q! b, F& stotal tax credit for child day care4 I& k* X. ~! b5 ]! W
total day care cost + Y8 w, ^0 @0 W2 U; P2 t8 @# G2 c3 G6 x9 J- u* r
so the formula is:" I& R0 E. b* K: I
: f1 \2 ^3 j. I& ~2 ototal 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.