JPEG - (Joint Photographic Experts Group) * Recommended for General Uses - Snapshot Photography. Explanation: The JPEG format is the most commonly used and universally compatible image file. It uses what is called a "lossy compression". What this means is that as a sacrafice to reduce file size, some image data is discarded as it is compressed. However, when scanned at a high resolution and saved at a high quality / low compression setting, the data loss really isn't noticeable to the naked eye.

TIFF - (Tagged Image File Format) * Recommended for Professional Photography / Press Printing / Extensive Editing. Explanation: TIFF format is standard for professional and commerical use. It uses "lossless compression" which means that no image data is discarded as the file is uncompressed. Therefore, the image can be opened, edited, and saved again without losing any data. The down side to the TIFF format is that the files are much larger and will take up more disc or hard drive space than a JPEG file.