You can also request that the IRS withhold money for taxes from your Social Security checks up front. This would save you the trouble of having to do the math to figure out how much you might owe. If it withholds too much from your checks, you'd get the extra back as a refund when you file your tax return.

A lot of people end up relying heavily on Social Security for income in retirement. And unfortunately, folks in that boat often get an unpleasant surprise when they learn that Social Security benefits can be subject to taxes.

For as long as it's been an option, Social Security's earliest claiming age -- 62 -- has been one of its most popular. But that's changing.