factors to consider if purely from tax perspective: % ^; h. E6 J+ n0 P) p; \$ g J& f6 e$ r- @. e7 j
total additional income 8 y' r A: K, E
total taxes paid (assume it's not a cash job)" ]1 ?2 b$ j# U5 Q; m* `
total tax credit transferrable to working spouse2 I5 C' r/ b$ z5 O9 s' R
total tax credit for child day care4 P; c3 V* u8 N8 j+ f. v" J( K
total day care cost, V5 M8 ^/ J+ K( k% e8 R* j) D8 l
: U! v8 ]% [; \
so the formula is: 0 Z1 F6 r& w9 G$ T, g9 l6 y: g9 V6 ]# [: ^. L4 z y
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.