factors to consider if purely from tax perspective:( z; M3 w+ f' g) }1 z
- B( W5 ~7 o1 r( b2 N! o' {; atotal additional income ( P' ?+ E6 X& ]# t' O' a$ ^total taxes paid (assume it's not a cash job)8 T% e" G: B; O+ W
total tax credit transferrable to working spouse5 b0 k/ e$ X# `* n6 B# _
total tax credit for child day care $ n4 X" [. D# Etotal day care cost' a2 W% d6 a0 t3 u3 H" D
# h$ P q" Z2 `& k
so the formula is:( c8 }/ E7 y+ ?* | L( r* g+ i
2 _+ a. u; X' p/ Atotal 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.