Just A little info....

".BMP" -  lossless, uncompressed and does NOT have an alpha channel.  2bit to 8bit color  (older image format - VERY compatible)

".PNG" - lossless compression, Alpha channel, 2bit to 16bit color.   

"TIFF" - lossless compressed or uncompressed, Alpha channel, 2bit to 16bit color  ( think there may also be a 32bit version) plus  TIFF contains "metadata" that a  printer can use to fine tune the output of printed material.  (TIFF,  PSD and PDF are the prefered formats of your local printing house)

".JPG"  lossy compressed, no Alpha channel, 8bit only.  Good for internet,   not to be used for production purposes.

take care