factors to consider if purely from tax perspective: 4 V$ @% D0 d& I( @ " R; |! a" R% c- l" x/ Ktotal additional income 2 k* `$ p% W, F; T6 G
total taxes paid (assume it's not a cash job)) d" ^1 x9 ?8 T5 M$ o
total tax credit transferrable to working spouse ) e. |) z& |- T1 X* Rtotal tax credit for child day care " @1 ?5 S! l: O) J! Z% @total day care cost - Q* Q: b, W- Q 4 c; l* Q7 Z! {, L) m) H% Z) y' S( Yso the formula is:+ E8 J+ w& B/ G% _
$ `+ q6 M. J2 ?; c
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.