factors to consider if purely from tax perspective:7 d# x1 K7 y$ | D( `
- Y) [! c: A9 a6 E- d5 r% `: Q8 K0 O8 @
total additional income * y$ e) v6 j/ d9 F" n
total taxes paid (assume it's not a cash job)0 A* H& s- L6 b8 n5 l
total tax credit transferrable to working spouse6 z6 ]9 f4 k. U, [! |4 j
total tax credit for child day care! J- h8 r/ j- M
total day care cost 5 g% ]1 d7 y; v B! w8 N! G0 Q. r1 l, t
so the formula is:. U" R" s0 C9 v8 r. b/ D/ z
0 g& S2 P$ p Ntotal 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.