Market Recap No market recap provided in the text. Trading Environment Trading profits can incur significant tax liabilities. Tax efficiency is as crucial as profitability for traders. High-income earners face substantial federal and state income taxes (e.g., 37% federal, plus state taxes like Massachusetts' 6% + 4% millionaire tax, totaling ~47%). Lessons Learned Prioritize Tax Efficiency: Being tax-efficient can save millions, even if not increasing gross profits. Consult a CPA: Tax rules are complex; professional advice is essential for individual circumstances. Act 60 in Puerto Rico: Relocating to Puerto Rico can eliminate federal income tax and capital gains tax for U.S. residents (must establish no closer connection elsewhere in the U.S. for 6 months + 1 day). Unique opportunity for younger traders to accelerate savings and leverage compound interest. Avoids surrendering U.S. citizenship, unlike other tax-free countries. Utilize Retirement Accounts (Roth IR...
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