The payment + all other debts she's tied to can't exceed like 45% of her monthly income.We can each qualify even though neither of us earns much of a paycheck because we have 0 consumer debt and a mgt corp we are both shareholders of.

You can keep money in an S-Corp, however each shareholder must still report their share of the profit, regardless of whether or not they received the actual funds.Some of my clients will distribute just enough S-Corp profits to shareholders to cover their tax liabilities caused by the S-Corp operations.

My consulting is done through an LLC (s-corp) and I am the only shareholder. 

This allows you to be an owner-operator of an active business, and make your retirement plan a shareholder of that business. 

I prescribe to the Milton Friedman (renowned economist) view of business.One thing he is famous for preaching is in essence this: A business sole purpose is to make as much money as possible for the owner or shareholders while conforming to the basic rules of society.You can read his famous article hear:

There's no way to know on this unless you run the actual numbers.2) If you are planning to sell in the future, an asset-sale of a C-Corp (as it is usually structured) would result in a tax to the C-Corp on the sale of assets, and additional tax on the distribution to shareholders.

You can pay dividends to shareholders (your family) so that distributes income and keeps taxes low.

Management and the preferred shareholders repeatedly reaped the benefits during times of plenty, and rarely took the kinds of concessions forced upon the UAW repeatedly throughout the past 2 decades.

Dividends are profit distributed to the shareholders(owners) of the company. 

S-corps have some limitations on who can be shareholders.