William Augustin Flaherty was born on June 3, 1891, in South Boston, Massachusetts, to parents B. Herbert and Mary A. (Cronin) Flaherty. He received his early education in Milton, Massachusetts, before attending the prestigious Boston Latin School.
Flaherty began his stage career at the tender age of 18, performing in stock companies throughout the East Coast. He later transitioned to the legitimate stage, where he became a leading man for the renowned actress Mae West. His younger brother, Herbert, also pursued a career in the early days of playwriting.
During World War I, Flaherty served as a First Lieutenant in the 101st Infantry unit. He was wounded in the Battle of Argonne and was awarded the Purple Cross for his bravery. After the war, he returned to the stage, where he continued to perform in various productions.
In 1932, Flaherty made the transition to Hollywood, accepting a variety of character roles in films. He often played the roles of policemen or detectives, and he appeared alongside some of the greatest stars of the time, including Betty Grable, Clark Gable, Myrna Loy, William Powell, Cary Grant, Spencer Tracy, W.C. Fields, and Edgar Kennedy.
Tragically, Flaherty's life was cut short in an automobile accident on July 19, 1934, while he was returning to the East Coast to visit his family. He was just 43 years old at the time of his death. His sister, Mrs. Veronica Johnson, was also severely injured in the accident while riding as a passenger in the car. Flaherty was buried in the Milton Cemetery, and he was survived by his wife, Jackie.