Calculate Laras net reduction in cash flow, taking all taxes and related expenses into account. Assume a 7% state income tax rate. For background information, the couple does itemize but their property taxes alone are more than 10,000.

Lara is an eye surgeon who typically earns a salary of ~$600,000 per year from the surgical practice, in addition to significant investment income. Her spouse also earns a generous salary. Lara is thinking of cutting back her workload about 25%. She is wondering about the impact of the net loss in income on their lifestyle. She currently pays about $20,000 per year in childcare, and that would be reduced about 25% as well.