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factors to consider if purely from tax perspective:
5 Y- K2 x% F e2 S3 H! N+ O
& `, `0 P% H/ E4 u9 z* Itotal additional income ! K" u5 T7 z, h
total taxes paid (assume it's not a cash job)
4 \$ i8 l7 O& m$ p# q% Mtotal tax credit transferrable to working spouse
3 W, p! U$ X/ D; J- Ntotal tax credit for child day care- T" j+ X& ~, z
total day care cost
% [. ~( I! G+ U$ M0 O& o+ c
+ C* q8 b' z* Vso the formula is:
7 `$ t1 {, l( f+ q7 p6 q- S7 t- h2 \
; `& `! O0 `' Q: Stotal 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. |
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