@robertone139 Question: you said you made the S-corp for you and your wife. Do you and your spouse run/work the business together?
If your wife works in your business and you ditch the s-corp to operate as sole proprietors, then you should be able to each get the max FEIE. This will only help you if your wife actually works in/runs the business. If she doesn't work or works elsewhere that won't help. [For this year with the s-corp not only your W-2 wages but her W2 wages also are separately eligible for the FEIE.]
Note you don't each have a separate sole-proprietorship. Normally you would have a partnership but a married couple filing jointly can elect to to each file schedule c's for their share of the joint venture. See
https://www.irs.gov/faqs/small-business-self-employed-other-business/entities/entities
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