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factors to consider if purely from tax perspective:
7 ~- S6 L4 |0 N, D3 ?8 z* n$ \1 L! t- W0 |, U! W; B8 f5 L
total additional income ) ?: }3 |, M: ` ?- s2 c" s2 V* `
total taxes paid (assume it's not a cash job): N' e: L6 T+ M
total tax credit transferrable to working spouse
, @" F, d1 O2 ytotal tax credit for child day care% v' T/ u" K/ Z& S2 r) T
total day care cost
/ N6 ?4 `2 _& y8 K c f2 v5 f! z# Q) h) r& O+ z6 U
so the formula is:4 [ B) T' X e! i
5 b% \( G p7 D$ ztotal 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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