Can you offset active income by taking rental income through an S-Corp?

• Income from rental activities conducted by an S-Corporation is generally considered passive regardless of the shareholder's participation. There are exceptions to the rule for certain rental activities in which:
  • Significant services are provided (like a chartered boat or jet)
  • The average period of rental is less than seven days (hotel rooms, cars, etc...)
  • The owner is a real estate professional
  • The rentals are grouped with other non-passive activities
  • They are "self-rentals" (rented to a trade or business in which the owner materially participates)