factors to consider if purely from tax perspective:- ]* J6 l) ?2 K7 S* Q9 g
! c* ^/ L, n. N6 z+ Z7 F
total additional income / y9 j$ J' _/ G+ ?* ^- g
total taxes paid (assume it's not a cash job) & M F; M& y4 Gtotal tax credit transferrable to working spouse + _. s% }1 s; z6 n Ototal tax credit for child day care $ I' Q& Y2 B, S. Y6 d+ |total day care cost! e: |+ h. r# N+ E8 ~
% X0 X( A/ e0 w6 x& V- S `
so the formula is:; U) g7 H& ?& o9 z: \* X- E
9 h2 H: U- z+ P( o
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.