factors to consider if purely from tax perspective: 4 A+ @, s4 h: H" @5 x % x( g- Z" Z7 z" Q) L# h( Ltotal additional income 8 } f' L7 Y8 d$ v. \5 L
total taxes paid (assume it's not a cash job) 1 J$ w0 U& {+ |- l* J# }- Z! }, ?+ E- Gtotal tax credit transferrable to working spouse ( f9 `# `. [6 v- Itotal tax credit for child day care/ R1 g* m' R: H- w5 R4 `+ S
total day care cost 1 e3 w U7 m6 b- P! n; R: y! C4 g' ~; ?* M& t! |% `
so the formula is: + _- W5 z' V* G% v1 Z* H! K: c R' u: 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.