factors to consider if purely from tax perspective: ' a; W; p! g6 x% o* l a5 b2 O8 c% H$ t" g% P; Z4 Atotal additional income 9 b0 z: e9 r" C$ V. ktotal taxes paid (assume it's not a cash job)8 [8 J8 b" d7 l) u) j" l
total tax credit transferrable to working spouse % @% x1 p) W' D/ |8 ~4 atotal tax credit for child day care / R, \' f6 K5 Ttotal day care cost, E# H* w0 }) [8 O! `" f$ _1 j
8 C* w* D$ N0 r+ W, i: j
so the formula is: + e$ I- x& ]8 _, U5 A& X * Y3 E! C4 x. y$ f9 Ctotal 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.