Some advantages of using TIFF format are that it retains the image layers, transparency in the alpha channels, and other Photoshop features and tools while retaining quality. A JPEG format for example will flatten an image, as well as, “lose quality every time they are opened, edited and saved” (Chastain, 2010). With all the great things a TIFF format provides there is one draw “small” draw back. All the data saved takes space. This causes the TIFF files to be pretty large.
Chastain, Sue. "JPEG Myths and Facts." About.com Guide. Web. 4 May 2010.
Frank J, Romano. Pocket Guide to Digital Prepress. Clifton Park, NY: Delmar, Cengage Learning, 1996.