Got fired for because I'm "over-qualified". What does that even mean?

My boss called me this Sunday night a few minutes ago (it is already way past 7 pm) to tell me I cannot come in to work tomorrow and he is terminating my employment contract with the company. He claims that my termination is due to the fact that he had just finished a conference with his accountant and I am deemed as being over qualified for my job and therefore they are letting me go, effective immediately. I know I have not worked with the company that long yet (only about a month) but when he hired me he wanted me to create an organizational structure for his firm which included licensures, accounting, procedural organization, as well as managing properties from his other businesses. I just finished most of those tasks and was fine tuning some other things and now this? What in hell does “over qualification” even mean.
Got fired for because I'm "over-qualified". What does that even mean?
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