Different File Formats

Photoshop File Formats

Photoshop (.PSD) - good for Print ( Keeps layers in Photoshop). Can only be used in a small number of programs

Gif (.GIF) - Good for Web. Compressed (Small Files) (Can have transparent areas)

PNG (.PNG) Designed for the web, Compresses better and has better quality, also has transparent areas. (Portable Network Graphics)

JPEG (.JPG OR .JPEG) World most popular file format. Good for Web and Print. Good compression. Standard quality. Reliable.

EPS (.eps) - Good for print. you can save an image as small resolution as you want then if you open it up again and make it big it won't lose any quality.

PDF (.pdf) good for print. saves smaller can be opened anywhere.

TIFF (.tif) only for print. best quality

Illustrator File Formats

Illustrator (.AI) good for print. Can only be opened in Adobe Illustrator. 

Scalable Vector Graphic (.SVG)