To create a Smart Folder go to the Finder (desktop). Click on the File Menu and select New Smart Folder

In the search box type what your are looking for. In my case I typed iTunes. Then click the + symbol

Now click the 'Kind' drop down menu. By default the 'Spotlight Comments' option is not in the menu. If it's there then select it. If not select 'Other' and move on to the next step.

By selecting other, another box opens up. In the search box type the word Spotlight', then click the check box 'Spotlight comment' and click 'OK

When you are finished your Finder window should like this. Now Click Save

A dialog box will open and here is where you will name the Smart Folder, in my case I named it iTunes. Now click 'Save'.

All Smart Folders are saved in the "/Users/username/Library/Saved Searches" folder. To add this folder to the Finder Window's sidebar navigate to the "/Users/username/Library/ and drag the 'Saved Searches' to the side bar.

Thats it! Now all of your Smart folders are just a click away.