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egtax, a Richmond startup founded by Gregory DiNardo and Joe Acanfora, aims to simplify cost segregation studies for real estate owners and investors. These studies help calculate depreciation on properties and their contents, identifying assets that can be accelerated for tax benefits.

    Traditionally, civil engineers manually take measurements at a property, but Segtax uses automated 3D scanning technology to streamline the process. The company's software pulls out assets from images that can be cost segregated for depreciation purposes, including items like refrigerators.

    Segtax works with real estate investors or their CPAs to schedule a contractor to conduct a 3D scan of the property. Two engineers review the data to ensure IRS compliance and provide a report to the customer. The process typically takes one to three weeks.

    The company's goal is to make cost segregation studies more accessible and affordable, particularly for smaller real estate investors. Segtax aims to charge half the price of traditional studies, which can range from $2,000 to $15,000. By democratizing access to tax benefits, Segtax hopes to help anyone who owns an investment property.

    Segtax is generating revenue and working with clients across the US. The company is currently in a $750,000 capital raise and has already secured funding from local investors. DiNardo and Acanfora are full-time employees of the startup, which is headquartered in Scott's Addition. They plan to hire additional staff this summer, including software engineers and cost segregation study specialists.