factors to consider if purely from tax perspective: , F4 ^! |' O! S3 e- r7 ^7 T% J) l! ~' ?+ T3 T; o; m
total additional income , J# H: T8 W# M/ o" rtotal taxes paid (assume it's not a cash job) & z0 Z1 J0 B7 x& U& F$ r( E2 [total tax credit transferrable to working spouse- B' K# m/ V; q/ ]
total tax credit for child day care ; Y/ \3 q$ H$ A& ]) p5 k! jtotal day care cost s9 Q9 F* r% k, I p; a4 {0 B* c8 r1 ^4 v$ u+ I
so the formula is: - j9 ]$ N8 u! b# y+ z0 q, a5 M$ F
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.