That is a bad idea. Claiming to be exempt from taxes when you are not can get you into trouble. Instead, you could claim more allowances on your W-4 with your employer to have less tax withheld for awhile, and change it to fewer allowances later. The more allowances you put on your W-4 the less tax they withhold. That will give you more "take-home" pay and you will not get in trouble for claiming to be exempt. Just remember--at some point you pay tax. If you do not have enough withheld during the year, you will owe at tax filing time.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**