This is key:
The amount of the compensation will never exceed the amount received by the shareholder either directly or indirectly. However, if cash or property or the right to receive cash and property did go the shareholder, a salary amount must be determined and the level of salary must be reasonable and appropriate.
So you need to take a salary but it would be dependent upon profits. The IRS can't and won't do anything if you have nominal profits and can only afford to pay yourself a small salary as a result.
