factors to consider if purely from tax perspective: ) ~, B0 s# o7 {( Z% a7 {5 j* c- N) A5 t/ E' J6 T
total additional income & `' F" p: l& a* Z ?/ N- htotal taxes paid (assume it's not a cash job) 9 u/ C$ P3 [- \total tax credit transferrable to working spouse; G9 k- g0 w h8 ?: w% x6 A) d: ~( Q
total tax credit for child day care6 W `( }' C+ N) \5 T3 t1 X, Z
total day care cost0 t) P0 Q. w8 F; c/ ^. u
( C- H; I! m+ \( T2 [1 y& ~" `0 mso the formula is: 8 U$ v9 U @8 M6 K$ H/ x6 J, o- o3 l5 d" m- B' d, b4 a; a
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.