Did the same about a year ago.......haven't looked back. Get yourself a good accountant that knows all the ins and outs and you'll notice your take home income isn't going to be that much lower. Now that your side business is your career rather than a gig, you can claim and charge a lot more to it. Set up a SEP or Roth 401K and pump as much money as you can into it. With 3-4 jobs, I was never able to take child tax credits, was in the itemized deduction phase out, couldn't deduct all the child care expenses, and would have been into the alternative minimum tax this year. Now, I can take full advantage of those, plus I'm not paying for a sh!tload for nondeductible child care and life insurance. All those savings, credits, lower tax bracket, etc, not much has changed money wise, and quality of life has skyrocketed.
Good luck.....hope it works out for you too.