I'm salaried and I sorta do this. Since we dropped the 401K match (to save money) years ago AND our plan allows 100% contributions I contribute 78% of my salary to my 401K. Then around June I hit the 17K yearly limit and my checks go back to being normalized. I thought about claiming 0 and them increasing withholding at the end of the year but that is a bit risky for my tastes.
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