Ambassador Taubman is a graduate of the Wharton School of Finance and Commerce at the University of Pennsylvania with a Bachelor of Science degree in economics. He received an honorary degree from Hollins University in Hollins, Virginia in 2005.

A long time businessman, Ambassador Taubman served as President of Mozart Investments of Roanoke, Virginia. Previously he was Chairman and Director of Advance Auto Parts. Mr. Taubman also served as Director of the Shenandoah Life Insurance Company, was on the Board of Regents of Mercersburg Academy in Mercersburg, Pennsylvania, was a member of the Temple Emanuel, the World President's Organization, and was a Trustee of the Virginia Historical Society.

Ambassador Taubman has a distinguished record of public service, including serving as a member of the Roanoke City Council (1976 -1978). He received the Distinguished Service Award from the Roanoke Jaycees in 1978, and was awarded the Brotherhood Citation from the National Conference of Christians and Jews in 1981. He also served as: Director of the Central YMCA in Roanoke, Virginia; Director of Junior Achievement in Roanoke; Director of the Virginia College Fund in Richmond; Director of the Blue Ridge Mountains Council- American Boy Scouts; President and Director of the Roanoke Valley Chamber of Commerce; Trustee of the Burrell Memorial Hospital; Director of Roanoke Valley Industries and the Roanoke Merchants Association; Chairman of Brotherhood Week; Director of the Roanoke Symphony Orchestra; President of the Automotive Associates, Rochester, New York; President of the Automotive Executive Association; Director of the Alliance Tire & Rubber Company in Hadera, Israel; member of the Legislative Study Committee of the Roanoke Valley Chamber of Commerce; Member of the City of Roanoke Administrative Management Study Committee; Trustee of Hollins University, Hollins, Virginia; and as a Member of the Young President's Organization.

Ambassador Taubman served in the U.S. Army from 1957-1958, and again from 1960-1961.