Born in Ireland, Taylor immigrated to the American colonies at age 20, landing in Philadelphia in 1736. According to early 18th century biographies of the signers of the Declaration of Independence, he was the son of a Protestant clergyman. To pay for his passage, Taylor was indentured to Samuel Savage, Jr., ironmaster at Warwick Furnace and Coventry Forge. He started as a laborer, but it is believed that when Savage discovered Taylor had a certain degree of education, he promoted him to bookkeeper.