factors to consider if purely from tax perspective: , U3 M# r0 k+ {: E7 F/ ?0 y" q# \$ r
total additional income 7 Z0 o: e# s) F4 u6 V, ltotal taxes paid (assume it's not a cash job) E t a3 N' U/ p# b) ]% c5 ]total tax credit transferrable to working spouse & G1 s- L$ [& C2 j6 M- jtotal tax credit for child day care ) m% z2 \4 K9 {total day care cost- X! h3 r4 r+ ]# b2 k
/ G3 r& w" |$ R6 t3 z
so the formula is: 6 K" I# u9 j$ X2 H7 Y* @! V. u* ? d. 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.