factors to consider if purely from tax perspective: ' H J' @1 _% x* I6 P& V7 w. d ' w8 _" Q$ q2 a$ Ltotal additional income 8 k! v" K4 \- A
total taxes paid (assume it's not a cash job)- @# L- Z; E+ w0 L( N* t
total tax credit transferrable to working spouse + T+ V' }* m% S0 C2 k) Utotal tax credit for child day care7 A) V0 j+ I9 U$ o0 E' @4 K+ T
total day care cost 9 Y/ r( C4 }4 ~1 \/ u 6 I$ t& C! W$ w, l* n' }# |% _& Dso the formula is:" R* J+ }& h8 d! `* C/ a7 k
+ e/ n6 y- B3 p3 S
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.