This document summarizes common image file formats, including their extensions, color capabilities, compression types, and common uses. JPEG files use lossy compression and support up to 24-bit color for photos shared on the web. GIF files use lossless compression and are limited to 8-bit color, making them suited for simple web graphics like buttons and icons. PNG files can support up to 24-bit color and use lossless compression, intended as a replacement for GIF files. TIFF files support 24-bit color and various compression types, used commonly for professional photos.