Thomas Daly made over $1.5 million from 2002-15 as a salesman of several products, including hurricane-resistant windows. On this approximately $107,150 per year, the Fort Lauderdale man rented an apartment, owned a boat, traveled internationally and paid for his girlfriend’s cosmetic surgery.
What Daly didn’t do was give the U.S. government its cut. The 53-year-old pleaded guilty to tax evasion in federal court Thursday.
Daly admits in court documents to filing a federal income tax return only once during that 14-year period. Other than that year, 2007, he failed to pay taxes in the amount of $351,241.55 and interest that totals $108,239.48.
Part of Daly’s avoidance involved forming South Florida Home Marketing Inc. in 2009 and opening a bank account in SFHM’s name. He also changed his employment status with the company (referred to in court documents as Company A) for which he worked from employee to independent contractor. So, Company A paid SFHM for Daly’s sales work without withholding federal income tax.
Daly then ran his personal expenses — rent, cigars, boat, travel, entertainment, jewelry, girlfriend’s cosmetic surgery — through SFHM’s account and classified them as “business expenses” on the checks.
He will be sentenced to no more than five years in federal prison on Aug. 18.