factors to consider if purely from tax perspective: 9 J4 X( K+ u; i : s0 ?, T! S# V* J7 p& xtotal additional income : e& c6 d' |. A( d' v! S: q
total taxes paid (assume it's not a cash job) $ S: K4 I/ N7 D1 B1 {6 |/ g; X9 Jtotal tax credit transferrable to working spouse 3 T# _( k4 M8 [5 gtotal tax credit for child day care ) J0 t5 w6 U, n( Z# @+ Y6 L5 i/ |7 B5 Ntotal day care cost 6 a. X5 v7 l0 b ?" |- ^1 E0 ?/ p" f5 P4 m. Z& e: D. q* a7 {/ z# Y
so the formula is: 6 R9 v; D% F5 o: _ ' ]" L5 k t9 U' Ftotal 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.