Be careful how you fund your S-corporations if you expect a loss.  You may not be able to take the deduction due to a lack of basis.

An S-corporation owner may unwarily fund their S-corporation in a way that does not give them a tax basis to deduct a loss.  A shareholder borrowed money from a partnership to lend to the S-corporation.  The S-corporation paid the partnership rent in a circular flow of money.  A Tax Court decision stated that that the owner didn't make any economic outlay so the loans did not increase his basis in the company.  (Kerzner, TC Memo. 2009-76).
There are other mishaps I have seen over the years.  Consult your tax advisor before funding your S-corporation.  It could cost you quite a lot in loss deductions if you don't.