I need extra money now in my paycheck. Can I take extra deductions as long as I pay the IRS when I file? Thanks, Mike

The IRS has rules about underwitholding. You need to check them out. But if you can do a balancing act between what you claim in expemptions and what your actual taxes may be, you can avoid giving Uncle Sam large interest free loans.

For more than 20 years, I have fluctuated between a refund or additional tax payment of less than $100. Some years I get back, some I pay, but always less than $100. Uncle Sam won't loan me money without interest I don't see why I should do that for him.

Agree with Scott. You can a high number of exemptions to max out your take-home pay, but if you owe more than $1,000 when you file, you WILL pay a penalty.

Thanks Guys, Due to a corporate takeover and my 10% participation in an ESPP I am looking at a 500% gain on 10% of my takehome pay. There are only 3+ months left in the year and I am looking for any way possible to maximize my takehome pay. I started by dropping out of the 401K; in which I already had reached the maximun employer match.

If the 500% gain is due to the stock merger, do not over react.

Many mergers are structured in such a way as to make them tax-free, or, at the mininum, not taxable until you sell the stock.

If you are not selling the stock, no taxes will be due.