The monthly salary of an employee is $6,550.00. 26% of the salary was deducted for taxes. How much money was deducted for taxes?
To calculate the amount of money deducted for taxes, you need to multiply the salary by the tax rate.
Tax amount = Salary * Tax rate
Tax amount = $6,550.00 * 0.26
Tax amount = $1,703.00
Therefore, $1,703.00 was deducted for taxes from the monthly salary of $6,550.00.