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I am looking for sources about US demographics, when i started collecting data, i found that there are different statistics inside census data portal.what is the latest +to date+ statistics that I can use.

I found this one.
https://www.census.gov/popest/data/state/asrh/2014/index.html

Can you share any page explaining time/process of collecting census data

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the american community survey is the principal annual estimate of the united states population. i think you are asking for https://www.census.gov/popest/schedule.html

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The American Community Survey is created from a large sample survey and is updated on an annual basis. As far as the Census datasets go, it is the most comprehensive (in terms of subjects) and geographically detailed dataset that is published on an annual basis - it will probably be your first choice.

One alternative is the Population Estimates Program. It's also published on an annual basis, but it only includes basic variables like age, gender, and race, and only for large areas like states, counties, metro areas, and places (i.e. cities). It's simpler to work with since it's smaller and isn't sample-based (data are estimates computed from births, deaths, and migration). If you just need the basics for large areas, it's a good option.

http://www.census.gov/popest/estimates.html

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