Claiming a bunch of tax allowances

scott4508 — Thu, 29 May 2008 20:02:39 -0400

Is it possible to do like single and 10 exemptions on your federal and state tax info? It sucks to have so much of your bonus taxed at such a high rate and let the government hold onto it interest free for a year. I'd ideally like to have as little taxes withheld as possible so that I can invest it during the year, and then pay a tax bill in april. Obviously I'd like to avoid paying interest/penalties which would negate this scheme... thoughts?