factors to consider if purely from tax perspective: $ z% X; _: V0 T0 c& i4 w , D# [+ ~' K& _8 q& ^8 g0 ^0 w( Stotal additional income + q2 ?1 B L& B4 o' J* Z. N3 l
total taxes paid (assume it's not a cash job) 4 ~' ]2 \9 J) F1 qtotal tax credit transferrable to working spouse ' H7 d+ v. L! @1 J5 mtotal tax credit for child day care5 Z. u; i& x: v# r" y! n3 d! B
total day care cost3 v$ V" ~+ x' l9 K8 K( Z5 O0 p
8 G- r, m ?; a' _8 wso the formula is:3 o7 M; V4 b1 i- V, s! d
0 @1 |. i& E9 ]; y( S8 r, D$ Rtotal 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.