factors to consider if purely from tax perspective:7 Y+ k5 [# ~6 [; S/ k5 ~
# {# i7 e+ i1 V) N
total additional income 0 ~* c4 B" I# G3 x2 D3 ]1 N0 u6 Stotal taxes paid (assume it's not a cash job) ; g0 K' D6 a4 a; W- j8 @total tax credit transferrable to working spouse1 O x3 g7 A3 ?
total tax credit for child day care0 C6 a6 O3 W' V8 R% h
total day care cost+ ]6 ?" L) g7 F+ q: `! ~
& f1 ^0 q2 |6 a7 ^so the formula is:& P, a, a- Q/ R x6 n6 L
* i" l/ W: D* E" c# t0 ]9 P" 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.