1) don't claim "exempt" claim a high number of "Allowances"
2) Ask you HR or payroll people what they allow, and how long it take for them to implement. Usually it takes them a certain time period to implement, so they may have a deadline by which the new W-4 must be given to them. Submit it too late, and it won't be implemented before the bonus is issued.
3) Jerking them around with a couple new W-4 forms over a couple months may get you labelled as a problem employee...but that's between you and them...
4) Not withholding taxes won't reduce your total tax liability at tax time. You could end up owing a lot extra at tax time....with penalties. But that may depend on the size of the Bonus
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
