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factors to consider if purely from tax perspective:6 Y2 ~. y- W! S) _7 m
+ p' ]) L3 @( y. X: ztotal additional income
$ S: I, M, Y) l. `total taxes paid (assume it's not a cash job)
: c0 a/ a" X. K% Qtotal tax credit transferrable to working spouse
5 ]* O* H. R) E- e: v! D; Dtotal tax credit for child day care9 B, {- _( t) P( \# m
total day care cost
, R2 V9 P* p6 A
* k0 Z: Z8 E3 tso the formula is:, ]. r; K3 ?0 u+ W: C
- v0 u- r8 @0 K, e% w. z- \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. |
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