factors to consider if purely from tax perspective: 0 }+ e9 t) m/ ^9 D' Q8 y 1 D; @) }( l5 Itotal additional income " Z& y# n8 {. {: V9 i1 d1 ktotal taxes paid (assume it's not a cash job)7 D3 ?4 c- S( p' f/ L) M
total tax credit transferrable to working spouse # ], j3 z( o$ y5 \( ftotal tax credit for child day care . Y# E) Q: ]- m- N$ V8 _total day care cost % a0 L; k! s# M. z, R- B& p; S: ]# d2 E
so the formula is: . ]( R, z9 D \! Z0 I" P, `% t# d3 U
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.