Jessica Groskopf - Extension Educator for Agricultural Economics

Jessica Groskopf

faculty, volunteer

Exten Educator NE Ext Engagement Zone 1 University of Nebraska–Lincoln
Stwide Ext Educator Nebraska Extension University of Nebraska–Lincoln

Work

4502 Ave I Scottsbluff NE 69361-4939

Work 308-632-1247

jjohnson@unl.edu

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icon-academic-capEducation

BS, Colorado State University, 2010
MS, Kansas State University, 2011

Faculty Bio

Hay bale sits in field — Nebraska hay stocks are substantially higher than last year, and coupled with low demand, there's currently downward pressure on forage prices. (Photo by Chabella Guzman)

Staying Current on Forage Prices

June 18, 2024

There are several resources that Nebraska producers can use to stay up to date on current hay prices. Use these sites to stay informed throughout the forage production season.

Insects in a line on flat surface — **Figure 1.** Wheat stem sawfly adult (left) and the two species of Bracon parasitoids (middle and right) that are commonly found parasitizing wheat stem sawfly larvae in Nebraska. (Photo by Jeff Bradshaw)

Wheat Stem Sawfly Flights Peaked, New Reports of Range Expansion

June 12, 2024

In addition to confirming the presence of wheat stem sawfly in new Nebraska counties this year, Nebraska Extension anticipates fairly high pressure from the crop pest this growing season.

Aerial image of cattle on farm — Borrowing a loan can be a useful tool for farmers and ranchers, but it's important to first understand the loan terms and repayment requirements as spelled out in the loan documents. (CAP photo)

The Basics of Loans for Farmers and Ranchers

June 6, 2024

Extension Agricultural Economist Jessica Groskopf reviews basic information about loans, such as the difference between secured and unsecured loans, and what financial documents to prepare for a lender.

Man speaks to older couple near vehicles and farm equipment — While land, machinery and equipment are the most logical options, any physical asset used on your farm or ranch could be considered in a gift leaseback for family members looking to join the operation. (CAP photo)

Ideas for Estate and Transition Planning: Gift Leaseback

May 23, 2024

Continuing a series on ideas and tactics for bringing another family member into the operation, this extension article expands on strategies to transfer wealth by combining gifts with a lease agreement.

Man and woman speaking near tractor — Successfully bringing additional family members into an ag operation may require some creativity, as all parties need to maintain a viable standard of living. Gifting assets is one strategy for compensating the next generation on the farm or ranch.

Ideas for Estate and Transition Planning: Gifting

April 24, 2024

Gifting assets, such as equipment, livestock, land, or shares of an entity, is one of several ways to compensate family members in an operation, but it requires careful consideration of the guidelines.

Two farmers conversing near farm equipment — Housing, insurance and vehicles can provide another form of compensation for returning farm or ranch family members. However, it's best for all family members in the operation to get non-monetary compensation in writing before any official employment begins.

Paying Family Members on the Farm or Ranch

February 29, 2024

This is the first in a series of Center for Agricultural Profitability articles that will highlight ideas and tactics for successfully bringing another family member into the operation.

Man filling out tax forms at desk — For farmers and ranchers, having investments like a retirement account can help mitigate risk. Often, retirement funds grow at a higher rate than inflation, protecting a person’s purchasing power later in life.

One-Participant 401(k): Saving for Retirement and Reducing Taxes

January 31, 2024

Insights on saving for retirement and reducing tax liability for self-employed farmers and ranchers.

Phone displaying IRS website and cash money — According to USDA, only 40% of farm households participate in some type of retirement account.

One-Participant 401(k) as a Tool for Farmers and Ranchers

January 31, 2024

Center for Ag Profitability experts review features of the One-Participant 401(k), which helps self-employed individuals and their spouses save money for retirement and reduce taxable income.