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Just to clarify: You do know the deductions do not come out of the "30%", but rather offset your income. If there's a positive remainder and you're in the 30% tax bracket, then you'll pay 30% of that. If there's a negative remainder, then you carry forth the loss to subsequent years.
Keep in mind it is entirely possible to pay zero income tax but lots of Self Employment tax. SE Tax can end up being several times more than the actual income tax...depending on how you work it.
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