factors to consider if purely from tax perspective: 0 [) }2 z8 f3 j- Y: a" q0 v" A: ~% _" ~) @; g" d
total additional income 1 o7 Q1 i/ q7 y% [9 e9 }
total taxes paid (assume it's not a cash job)$ G8 b) q1 q/ y9 {& f
total tax credit transferrable to working spouse/ M; M( l0 g* J1 P5 X) ~
total tax credit for child day care ! |! u4 m) q+ N5 vtotal day care cost; }5 C+ [; x& O. e) D
+ ], m* K, V9 R7 M1 eso the formula is:, B+ V- w0 [& r2 }: Q, U
3 J/ e1 g4 _+ {
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.