factors to consider if purely from tax perspective: 2 @2 ~, c N0 e' D9 P) W( D8 h9 a! Z. b7 [
total additional income * h5 y- c7 u" c9 ^# P% w3 H3 P
total taxes paid (assume it's not a cash job)8 I- U, x% r6 G
total tax credit transferrable to working spouse$ j& M9 [/ ^5 Y m" Q W
total tax credit for child day care 1 A; p+ q* ]) ~9 q9 S; Mtotal day care cost * ?! h8 X% ]$ j3 G" P: B 7 |3 A) u" G* eso the formula is:' B+ y& y( o% x0 X/ ^
3 D4 L* o. o1 _& [, I
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.