[capt_slow]

I'm in the process of buying my first home and I'm told it's a common practice for people to claim more allowances on their W-4. The idea sounds simple enough, get a larger paycheck and come tax time the mortgage interest and property tax deductions would even out the tax bill.

Has anyone from CA actually done this? If so, mind if I ask how many allowances you put on your W-4? Short of talking to a CPA, the figure I'm crunching out is a whopping 8 allowances!

For reference, my budget is well below the 750k loan cap for the mortgage interest deduction. The property taxes in the area I'm looking at are also below the $10k cap.