Born in Boston, Taylor's acting career began on the stage when he was a member of Chicago's Goodman Theatre. He moved to Los Angeles in the late 1970s to pursue a screen career.
Taylor landed the role of ex-convict Anthony Bouvier on Designing Women, and starred on the show from 1986 to 1993, earning a nomination for Best Supporting Actor Emmy in 1989. He later played plastic surgeon Sheldon Baylor on the sitcom Dave's World from 1993 to 1997.
Taylor also starred as the flamboyant window dresser Hollywood Montrose in the 1987 movie Mannequin, and had guest roles on other shows including Criminal Minds and The Drew Carey Show. He made his Broadway debut in 1998, playing Lumiere in Beauty and the Beast, opposite Toni Braxton.
In the late 1990s, Taylor also hosted his own shows on HGTV and the Travel Channel, and was a featured panelist on the 2000 revival of the game show To Tell the Truth.
He is survived by his wife, Bianca Ferguson, four children, and four grandchildren.