ymmv, but according to our business accountant this trick of paying yourself a very low salary is not kosher with the IRS. They want to see a salary that is justifiable in the context of the market rate for the job(s) you perform for the business. If your salary is significantly lower than that, they are not happy. They are also aware of the idea that the CEO of a coffee shop is not in fact a barista.

Also remember that the FICA tax is capped, so above $117k taxable income there isn't such a big spread between wages income and schedule K income.