factors to consider if purely from tax perspective: ) Y+ ]0 T) F0 p" h. E) n# _# i O" d1 W0 Y. x
total additional income # o% n+ e7 h v6 K5 ?1 Ptotal taxes paid (assume it's not a cash job)" s7 L0 a+ z! ^: B1 h/ C7 f" W, ?
total tax credit transferrable to working spouse: ^! \# k- D6 Z# V
total tax credit for child day care9 [$ j6 \! V# h% w
total day care cost 8 _ c/ _' O2 S 8 m4 p1 e! V- X. H% [& c: Aso the formula is:5 E" n y4 m p! a* b
2 p. C$ T' G) O# y! Z, T
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.