Social Security is an important part of retirement planning for many Americans. If you’re thinking about retiring soon, you’ll need to know how to apply for Social Security retirement benefits. You can start collecting Social Security retirement benefits as early as age 62.

If you're 70-years-old or older, apply for Social Security now to ensure you receive the benefits you're owed, even if you're still working.

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.