When you retire, there are certain monetary perks and benefits you may receive. Based on what your current earnings are, your social security benefits could grow into a potential and substantial part of your retirement income. Now, the question here is whether or not these benefits will be taxed. If your regular income plus your social security income crosses a certain taxable bracket, then you could be taxed on these benefits as well. This is why you must consult a professional to help you calculate what your total taxability is as per your salaried and/or business income and social security as well.