Loanee winger Taylor scored his first Robins' goal and made another to help his team to a first win in four and move them to second place in the table.
Taylor joined Cheltenham from Reading in early November on a two month deal, but boss Mark Yates will be hoping to extend the deal until the end of the season on this performance.
In the 29th minute full back Sido Jombati nodded an overhead clearance to Taylor and he rifled in a volley from the right angle of the box.
Portuguese full back Jombati then sent over a inch perfect cross for striker Jeff Goulding to nod in his third of the season from eight yards.
Nine minutes after the break hard grafting Taylor set up striker Darryl Duffy for a third.
Goulding picked Taylor out on the left wing and his cross found Duffy unmarked at the far post to head in his second goal of the campaign.
Jermaine McGlashan added number four in the 70th minute.
Midfielder Darren Carter dribbled his way into the area before sending a low ball across the face of goal and winger McGlashan back-heeled home for his third of the season from one yard.
Wycombe could have been really embarrassed, but keeper Jordan Archer kept the score down with a sting of excellent saves including two at full stretch from Taylor and Carter.
Yates was delighted to see his side bounce back from last Friday's 1-4 drubbing at Rochdale and said:
"It was a case of the boys putting right what was wrong then. They showed grit and determination."
Wycombe player-manager Gareth Ainsworth said:
"We're gutted, but it was a fair result and we'll take it on the chin."
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