@dannyb785 - on the 15.3%, that is really social security and medicare tax.
If you were a W-2 employee, the IRS would collect the same amount (half from the employer and half from the employee). So this is no different, otherwise every W-2 employee in America would want to be declared self-employed and the social security and medicare funds would go broke
As a self-employed indivual, the IRS does give you back half in the form of a deduction, which is similar to a business that pays its half of the tax and then can deduct it as a business expense.
