factors to consider if purely from tax perspective: ' \7 H! A& W7 T5 j! ], |7 s" H9 x' i3 a
total additional income 4 F, Z" L" q! k; Ltotal taxes paid (assume it's not a cash job) $ L# t" e3 {1 r& ?2 ytotal tax credit transferrable to working spouse " Y9 S5 ~2 J' k6 Etotal tax credit for child day care & _; @/ f$ q+ i/ X3 l+ {total day care cost+ R5 W4 S8 I, Z R
* Y- V. |# w! O4 N7 G' U5 O [" G
so the formula is: ) P5 h' c+ H1 X, H( g% y% e s+ z. h8 i$ l7 q
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.