When filling out a standard W4 form, there is always the ability to withhold an extra amount of cash from each of your paychecks. Until now, working at part time jobs, I needed as much of my money as fast as I could get it, and I simply ignored the field.
Now, however, I'm at a point where I could spare a few dollars each check and I'm wondering if there is any value in doing this.
Does this amount help with anything in particular? If I choose to do this, can I at some point in the future stop having this extra amount withheld?
All answers are greatly appreciated.