As i've mentioned in previous posts. Right now i'm shooting both RAW and JPEG, In DPP i review my pictures. For the most part i'm just processing the JPEG files, as I'd like to get more familiar with PS first, before adding the complexity of figuring out a RAW workflow. For the shots I really like, I do take the RAW files, convert to TIFFS in DPP and then further process in PS and resave the PSD files as TIFFS.

For the vast majority of the shots (JPEG), I'll work with layers in PS, to adjust saturation/contrast/etc, to get the files looking like i want. I will then save the PSD file to a JPEG file.

I have two questions, to improve my current photo files, until, I do transition fully to working with RAW files.

1) For my JPEG files, does it make sense to save the JPEG files processed in PS as TIFFs or should JPEG files be resaved as JPEGS??? Can JPEG files be saved as 16 bit files???

2) For the RAW files I am processing, how do i save them as 16 bit files in DPP??? Right now I only have Elements 2, but once i get my scanner it is bundled with Elements 3. Can elements 2 or 3 handle 16 bit files?? what is the process for saving a file as a 16 bit file?

Longer term, it becoming obvious that I need to take a PS course. But in the meantime, I would like to still process what I am shooting.

1. JPEG files are compressed files and worse than that, every time you compress (i.e., re-save as JPEG format) you lose a little information from it. Furthermore, JPEGs dont keep layer, mask, notating information in it, so, for the purpose of archiving your works, saving as JPEG is a no-no. It is ok to save as TIFF format, on the other hand, as TIFF files do support layers. BUT, make sure it's a lossless save. for me, i just save my post-processing works in PSD.
As for the question about 16-bit JPEG: it does not exist. Also, in digital imaging you should always remember GIGO - Garbage In, Garbage Out. Since your input is already a JPEG, you'll get nowhere even if you convert it to 16-bit. Think of it this way: i have a cup of beer. i pour in a cup of water hoping to have 2 cups of beer. well, i doo get 2 cups of beer, but the beer is now lighter and has an awful taste.

2. I'll leave this Qs for others to answer as ive never used Elements before

hope this helps