Why in the world would a sub-S want to be on a W-2?
It is a common business model among the high-paid. You have a sub-S corp, rent yourself out to companies and invoice them, and they pay out all the money to yourself as a salary from your sub-S corporation. This allows you to dodge the 2% limitation of business expenses, and deduct your medical insurance as a business expense.
I go out to lunch with a guy like this. We discuss business for five minutes, and then he writes off 50% of the cost of the lunch as a business expense.