What are the pros and cons of more allowances on your W-4 form?

I recently got a job and I would not have made much this year. I'm 17 and just started my job at the beginning of November. My mom will claim me on her tax return

Other answer:

if you recently got a job there is no way you can make your non taxable income, $6400 by the end of the year, you would claim exempt on your W-4
if you continue to work into 2017, you will need to change the W-4 to single 2
you can claim what you are eligible to claim on the W-4, and claiming this way normally is fairly even when it comes time to file your tax return
but to your question if you have too much withheld(claiming 0) it is possible you actually don't owe it and have to file a tax return to get it refunded to you, all the while you don't have use of your own money you have lent to the gov't for the year
In your case it doesn't matter. If you are keeping that job next year, you need to claim 0 or 1 since you are a dependent. You have no basis for claiming any allowances and you do not have a choice as to how many "extra" allowances you can claim.

Zero allowances will take out (possibly) a little more tax than 1 allowance depending on your income.

They might take out less, but you'll have to make up any extra when you file if you make over 6300 for the year. Your total tax is the same either way. Also, since you're not entitled to them, it's illegal to put 9.
the more allowances the less they take out – higher pay check lower refund.

less allowances = more taxes taken out – lower pay check higher refund.

in the end it all works out the same. it just depends do you want that money every pay or do you want to lend the government your money interest free for the year

the more allowances you claim the less in tax they take out of your check, but if you have too many you will owe tax at the end of the year especially since your parent is claiming you
Pascal the Gambler:
More allowances, less withheld. In no way affects what you actually owe.
Max Hoopla:
You won't owe anything one way or another.

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