Edit: Dr Clyde covered it pretty well while I was typing!
How many holes, and is it a through hole?
Tapping a hole is pretty easy. First, drill it to the correct diameter. Use a tap chart, and the size of bit for the class of thread you want. That's the reason there's numbered and letter bits, to get the precise size. Then, it's just a matter of starting the tap at 90 degrees to the surface, and threading it in. Use a high quality high speed steel tap. Coat the tap with cutting oil. If you're just doing one hole, and you're not particular about thread class, just eyeball the tap for squareness, or use a square or really anything with a 90 degree angle to check that you're doing it straight.
If you're doing precise work and the workpiece is small, I recommend tapping in the drill press or milling machine. On the drill press, just put the tap in the chuck, put a small amount of down force on the quill, and turn the chuck by hand to thread the tap in. On the mill, I use a spring load tap chuck that allows the tap to self feed into the work.
Another option is a tapping fixture, I have a Phase II, that holds the tap square to the work, and has a crank to turn the tap in.
Many people advocate turn the tap backwards and forwards to break the chips free. You get a better thread if you just thread it in, and if you have a good sharp tap and cutting oil, it's unnecessary. If needed, blow a bit of air down through the flutes in the tap to clear the chips out the bottom of the hole.
One trick for beginners that don't want to invest in tap guides or a tapping fixture is to drill a hole through a 2x4 block with a drill press so it's square. Use that block to hold the tap to start it square. You can make more permanent ones by using steel or aluminum blocks, and for production work, could use hardened steel drill guide inserts.