Social Security retirement benefits are subject to taxes in many cases. But familiarity with the rules and some advance planning can limit the impact.

Each year, the Social Security Administration (SSA) adjusts the amount of money that recipients receive in benefits, helping to account for factors such as inflation. Ideally, the adjustments give the 68 million Social Security benefit recipients more purchasing power during their retirement years.

You generally need to be at least age 62 to qualify for either spousal or divorce benefits, but there are exceptions if you're caring for your spouse's child. If that child is either under age 16 or disabled and is entitled to Social Security on your spouse's record, you may be able to take spousal benefits at any age.

Understanding the details of Social Security is critical for both current retirees and for those who are going to retire in the future and who plan on these retirement benefits being an important income source.

Social Security is an important piece of the retirement puzzle, particularly for middle-class retirees who count on the safety net to supplement their post-career income. But if you see Social Security as an income centerpiece,

Retirement account withdrawals and earnings from a job may not be the only taxable income you have, either. The federal government taxes seniors' Social Security benefits if their income exceeds certain thresholds. If you live in one of the following nine states, you could owe some state Social Security benefit taxes as well.

Here’s how many Social Security retirement checks go out to people 99 and older. Hint: It’s far fewer than Trump claims.