factors to consider if purely from tax perspective: ) }( L+ f; f8 I+ }( ?4 k5 ~" W: ?! J2 L3 m+ V
total additional income 6 _- K! Q6 A! u8 g6 ~total taxes paid (assume it's not a cash job) * a+ L7 X( H/ T& M8 u, xtotal tax credit transferrable to working spouse 0 t# [6 i* |. o2 n) itotal tax credit for child day care : V* r% W/ M! U& Ftotal day care cost a( F: F' }+ _ ' Z# M2 A2 G# g; \# \so the formula is:; {% x& Y4 s$ y
! W* R: ]( Q t: r
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.