User Guide
At first the relevance may not appear obvious, but as the amount of content
builds up on your website you will be glad you started from the beginning, rather
than go through and add terms at a later date!
There are no strict rules as to what your taxonomies are - they are your creation.
However, on the flip side, you can spend a lot of time defining your taxonomy
terms so that anyone who enters content follows your terms, rather than making
up their own.
Custom Taxonomies
Along with the default taxonomies provided by WordPress you can create your
own. However, as this requires editing one of the WordPress files
(functions.php) this is covered in the Advanced User Guide.
WordPress 3 User Guide" Chapter 5: Posts
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