Social Security is a government program in the United States that provides financial benefits to retired and disabled workers, as well as their eligible dependents. It is funded through payroll taxes and is designed to provide a safety net for individuals and families during retirement or in the event of disability.

You can start receiving Social Security retirement benefits as early as age 62. However, the amount you receive will be reduced if you choose to start benefits before your full retirement age, which is typically between 66 and 67, depending on the year you were born. On the other hand, if you delay starting benefits beyond your full retirement age, your monthly benefit amount will increase.

Social Security benefits are based on your highest 35 years of earnings, adjusted for inflation. The Social Security Administration applies a formula to your average indexed monthly earnings to determine your primary insurance amount (PIA), which is the monthly benefit you would receive if you claim benefits at your full retirement age. The actual benefit amount you receive may be higher or lower depending on when you start claiming and other factors.

Yes, you can work and receive Social Security benefits at the same time. However, if you start receiving benefits before your full retirement age and earn more than a certain limit, your benefits may be reduced. Once you reach your full retirement age, there is no earnings limit and you can work and receive full benefits without any reduction.

Yes, Social Security benefits can be taxable depending on your income level. If your combined income (which includes your adjusted gross income, nontaxable interest, and half of your Social Security benefits) exceeds a certain threshold, a portion of your benefits may be subject to federal income tax. The exact amount of your benefits that is taxable will depend on your income and filing status.

There are several strategies you can employ to maximize your Social Security benefits. These include waiting until your full retirement age or even beyond to start claiming benefits, as this can result in higher monthly benefit amounts. Additionally, coordinating benefits with your spouse, if applicable, can help maximize your combined benefits. It is also important to consider your life expectancy and financial needs when deciding when to start claiming benefits.