Should my spouse enter the work force?

A working spouse can provide additional needed household income. However, when making your decision, you need to look at the net income generated by a working spouse not simply the gross income. Factors such as health insurance savings, increased daycare expenses, additional transportation costs, etc. need to be considered. Use this calculator to help determine the potential additional take-home pay.

Current Monthly Expenses
$

What you currently pay for daytime child care, before the change.

Advanced options 2
$

Current monthly life insurance premium you might drop if new coverage is available.

$

Current monthly medical insurance premium you might drop if new coverage is available.

Monthly Salary and Benefits
$

The spouse's expected gross pay per month before taxes and deductions.

Advanced options 5
%

Percent of gross salary contributed to the new employer's 401(k) plan.

%

The rate at which the employer matches your contribution (e.g. 1.0 = dollar for dollar).

%

The highest percent of salary the employer will match.

$

New monthly life insurance premium deducted from the new job's pay.

$

New monthly medical insurance premium deducted from the new job's pay.

Monthly Work-Related Expenses
$

Estimated monthly cost of client or business entertaining tied to the job.

$

Expected monthly child care cost if the spouse takes the job.

$

Extra monthly spending on work-appropriate clothing.

$

Extra monthly housekeeping help needed because of the job.

$

Extra monthly cost of meals eaten out or bought due to working.

$

Extra monthly commuting or transportation cost.

Income Tax Information
%

Your household's federal marginal tax rate that applies to the added income.

Table of Federal Income Brackets and Rates. Tax Rate For Single Filers For Married Individuals Filing Joint Returns For Heads of Households 10% $0 to $11,925 $0 to $23,850 $0 to $17,000 12% $11,925 to $48,475 $23,850 to $96,950 $17,000 to $64,850 22% $48,475 to $103,350 $96,950 to $206,700 $64,850 to $103,350 24% $103,350 to $197,300 $206,700 to $394,600 $103,350 to $197,300 32% $197,300 to $250,525 $394,600 to $501,050 $197,300 to $250,500 35% $250,525 to $626,350 $501,050 to $751,600 $250,500 to $626,350 37% $626,350 or more $751,600 or more $626,350 or more.

%

Your household's state marginal tax rate that applies to the added income.

Advanced options 1

Self-employment income is taxed with both halves of FICA instead of just the employee share.