Definitely not a "one size fits all" situation.  But why does the client want to discontinue corporate form -- accountant is charging too much for income tax and payroll returns?  

I used to have an office neighbor CPA who for years got away with putting all his clients on zero payroll, all K-1 distributions.  I wonder now how they feel about the size of their Social Security checks.  But if someone with $80K income wants to avoid payroll taxes on the last $20K, that $3,000+ savings can go a long way to return preparation fees.  

Another client, starting a new contracting business, went to community college classes taught by a CPA who stressed that everyone should elect S status.  That was before they met me.  They were putting all the profits back in the business, but paying tax on them at a 35% rate because of the wife's healthy W-2 income, instead of 15% lower corporate rate.  Their IRS problems led to their eventual bankruptcy.