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A popular songwriter (Peter Falk) is destitute after spending all his royalty money. He meets a socialite (Janet Leigh) with money problems of her own, but their mutual financial predicament presents a unique opportunity. The pair plan to get married in order to file their taxes together, and then, taking advantage of the government's "deductible" tax law, they will receive a steady stream of income. This way, they can work toward regaining their lost wealth. But will their plan work?