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Mike Thrift

Marketing Manager

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11 min read

Affirm FY2026 Q4 Earnings: $1.17B Revenue, a $1.5B Tax Benefit, and a $9.0B Loan Book

Affirm's fiscal Q4 2026 (ended June 30, 2026) posted $1.17 billion of revenue (+33%) and $14.1 billion of GMV (+36%), but the $4.62 GAAP EPS against a $0.85 consensus was driven by a roughly $1.5 billion non-cash valuation-allowance release — cash taxes paid were about $7 million. Full-year operating income turned positive at $417 million while the $9.0 billion net loan book runs on $9.8 billion of funding debt, modeled FY2022–FY2026 in a public Beancount ledger.

Mike Thrift

affirmopen-ledgerfinancial-analysis
13 min read

Best Buy FY2027 Q2 Earnings: Comps +4.1%, GAAP EPS +70%, and a $34M Tariff Assist

Best Buy FY2027 Q2: revenue $9.78B (+3.6%), enterprise comps +4.1%, GAAP diluted EPS $1.48 (+70%) versus adjusted $1.47 (+15%). Roughly $0.41 of the GAAP jump is last year's restructuring base effect, and ~$34M of IEEPA tariff refunds (~$0.12 per share) supplies about two-thirds of the adjusted EPS growth. FY27 comps guidance rises to 1.9–3.0% and adjusted EPS to $6.70–$6.90, while inventories climb 8.3% to $6.3B — all tracked in a public Beancount ledger spanning FY2022–FY2027Q2.

Mike Thrift

best-buyfinancial-reportingfinancial-analysis
12 min read

How to Reconcile Klarna, Affirm, and Afterpay Settlements Without Losing Track of Revenue

BNPL settlements net fees at the source and deduct refunds from future payouts, so booking the bank deposit as revenue understates sales and breaks your 1099-K tie-out. This guide shows the clearing-account method — one account per provider, revenue booked gross on the order date, fees as their own expense — with a worked $10,000 Afterpay week and a monthly close checklist.

Mike Thrift

paymentsreconciliationrevenue-recognition
11 min read

Getting Paid for Bug Bounties: How Your HackerOne and Bugcrowd Payouts Are Taxed

Bug bounty payouts from HackerOne and Bugcrowd are ordinary income from the first dollar, and for 2026 platforms only issue 1099s at $2,000 per researcher — but the income is taxable with or without a form. Covers W-9 setup, the hobby-versus-business test that decides whether tooling is deductible, self-employment tax, and quarterly estimates.

Mike Thrift

taxtax-complianceself-employment-tax
10 min read

What Happens When You Cannot Pay Your SBA Loan: Default, Workout, Offer in Compromise, and Treasury Collection

SBA loans typically enter default after three to four missed payments; past 60 days past due with long-term problems, servicing rules push lenders toward liquidation over deferment. The sequence runs lender collateral seizure and personal-guarantee enforcement, SBA guarantee purchase with a 60-day demand letter, a lump-sum offer in compromise on Forms 1150 and 770 after collateral is liquidated, and finally Treasury Offset Program collection via tax refund offset and administrative wage garnishment.

Mike Thrift

sbaloanssmall-business
13 min read

The Capital Construction Fund: How Commercial Fishermen Defer Tax on Vessel Money

The Capital Construction Fund lets commercial fishermen deposit fishing income before income tax under IRC Section 7518 and spend it tax-free on building or rebuilding a U.S. vessel — at the cost of reduced depreciable basis. This guide covers the 2-net-ton eligibility floor, the three internal accounts, qualified versus nonqualified withdrawals taxed at the top marginal rate plus interest, the 25-year clock, and the annual NOAA Form 34-82 filing.

Mike Thrift

tax-planningdepreciationself-employment-tax
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